Govt injects Rs 16.50 billion into RINL to ensure its sustainability

05 Nov 2024 CW Team

The government has invested approximately Rs 16.50 billion in the state-owned Rashtriya Ispat Nigam (RINL), which is currently facing operational and financial challenges, as stated in an official document. The Ministry of Steel mentioned in a note that it is implementing various measures to ensure RINL remains a viable entity.

The document indicated that on September 19, 2024, the Government of India infused Rs 5 billion as equity and subsequently provided a working capital loan of Rs 11.40 billion on September 27, 2024.

Furthermore, it noted that SBICAPS, a wholly-owned subsidiary of the State Bank of India (SBI), is preparing a report assessing the sustainability of RINL.

According to the document, RINL is experiencing severe financial difficulties, prompting the Ministry of Steel to undertake several initiatives in collaboration with the Ministry of Finance to keep the company operational.

RINL, operating under the Ministry of Steel, is a steel manufacturing entity that operates a 7.5 million tonne plant located in Visakhapatnam, Andhra Pradesh. The company has been grappling with significant financial and operational issues.

As of October 2028, two of the three blast furnaces were shut down, with the second furnace being reactivated after approximately 4 to 6 months. RINL's overall outstanding dues have exceeded Rs 350 billion. In January 2021, the Cabinet Committee on Economic Affairs (CCEA) granted 'in-principle' approval for the complete disinvestment of the government's stake in RINL, also known as Visakhapatnam Steel Plant or Vizag Steel, including RINL's stakes in its subsidiaries and joint ventures through strategic disinvestment and privatisation. This decision has met with opposition from workers' unions, which argue that RINL's lack of access to captive iron ore mines is a significant factor contributing to the company's crisis.

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..