+
RINL revival plan expected by December
ECONOMY & POLICY

RINL revival plan expected by December

The government is expected to finalise a comprehensive revival plan for Rashtriya Ispat Nigam Ltd (RINL) by December. This plan will address the restructuring of RINL's Rs 75 billion dues, which are nearing classification as non-performing assets, according to a senior government official.

Discussions with creditors are currently underway, and the government has provided short-term relief measures, including a Rs 11.4 billion loan and a Rs 5 billion emergency grant, to keep RINL operational until the revival strategy is established. The loan will be used to settle bank dues, while the grant will cover outstanding Goods and Services Tax (GST) and partially pay operational creditors like coal suppliers.

The official mentioned that the previous divestment plan for the public sector enterprise has been set aside. RINL's largest lender, State Bank of India (SBI), is owed nearly Rs 105 billion. SBI Capital Markets Limited (SBICAP) is currently evaluating RINL's operational and cost inefficiencies to propose measures to reduce losses.

RINL faces significant challenges, with only one of its three blast furnaces operational in September, as it grapples with a shortage of raw materials and cash flow issues. Currently, the plant operates at 1.25-1.3 million tonnes of its total capacity of 7.3 million tonnes.

Overall, RINL's total outstanding debt stands at approximately Rs 350 billion, comprising Rs 75 billion owed to vendors and Rs 180 billion to banks. In September, SBI presented to officials from the Department of Financial Services (DFS) and the Ministry of Steel to explore solutions for RINL's financial difficulties. (ET)

The government is expected to finalise a comprehensive revival plan for Rashtriya Ispat Nigam Ltd (RINL) by December. This plan will address the restructuring of RINL's Rs 75 billion dues, which are nearing classification as non-performing assets, according to a senior government official. Discussions with creditors are currently underway, and the government has provided short-term relief measures, including a Rs 11.4 billion loan and a Rs 5 billion emergency grant, to keep RINL operational until the revival strategy is established. The loan will be used to settle bank dues, while the grant will cover outstanding Goods and Services Tax (GST) and partially pay operational creditors like coal suppliers. The official mentioned that the previous divestment plan for the public sector enterprise has been set aside. RINL's largest lender, State Bank of India (SBI), is owed nearly Rs 105 billion. SBI Capital Markets Limited (SBICAP) is currently evaluating RINL's operational and cost inefficiencies to propose measures to reduce losses. RINL faces significant challenges, with only one of its three blast furnaces operational in September, as it grapples with a shortage of raw materials and cash flow issues. Currently, the plant operates at 1.25-1.3 million tonnes of its total capacity of 7.3 million tonnes. Overall, RINL's total outstanding debt stands at approximately Rs 350 billion, comprising Rs 75 billion owed to vendors and Rs 180 billion to banks. In September, SBI presented to officials from the Department of Financial Services (DFS) and the Ministry of Steel to explore solutions for RINL's financial difficulties. (ET)

Next Story
Infrastructure Energy

L&T to Build India’s Largest Green Hydrogen Plant for IOCL

The plant will be developed on a build-own-operate (BOO) model and will supply 10,000 tonnes of green hydrogen annually to IOCL for a period of 25 years. It will operate entirely on renewable energy, aligning with IOCL’s decarbonisation goals and India’s broader net-zero ambitions.Green hydrogen at the plant will be produced using high-pressure alkaline electrolysers manufactured at L&T Electrolysers Ltd’s facility in Hazira, Gujarat. This initiative further showcases L&T’s commitment to localised, self-reliant clean-tech solutions under the Aatmanirbhar Bharat mission.LTEG’s..

Next Story
Infrastructure Urban

Bansal Wire Q1 Profit Rises 24.6% to Rs 393 Mn

Bansal Wire Industries, India’s largest stainless steel wire manufacturer and second-largest steel wire maker by volume, reported a 24.6 per cent year-on-year rise in net profit to Rs 393 million for the quarter ended June 30, 2025 (Q1 FY26).During the quarter, revenue rose 14.9 per cent YoY to Rs 9,390 million, while EBITDA increased by 19.6 per cent YoY to Rs 745 million, reflecting the company's strong operational performance and focus on value-added segments.According to Pranav Bansal, MD & CEO of Bansal Wire Industries, the company has started FY26 on a strong note, building on the ..

Next Story
Infrastructure Urban

Lemon Tree Opens Keys Lite Hotel in Banswara, Rajasthan

Lemon Tree Hotels has launched its latest property, Keys Lite by Lemon Tree Hotels, Banswara, further expanding its footprint in Rajasthan. This marks the group’s 11th operational hotel in the state and continues its focus on providing quality stays in emerging travel destinations.The newly launched managed hotel features 54 well-appointed rooms, a multi-cuisine restaurant – Keys Café, a fitness centre, and spacious banquet and conference facilities, catering to both leisure and business travellers.Located in southern Rajasthan, Banswara is known as the “City of Hundred Islands” for t..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?