RINL revival plan expected by December

09 Oct 2024 CW Team

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)

Infrastructure Transport

18 Mar 2026

India’s Aviation Expansion Takes Centre Stage at Infrastructure Today Conclave

Mumbai, March 12, 2026: The Infrastructure Today Conclave – Airports 2026, held at Courtyard by Marriott, brought together policymakers, infrastructure developers, financiers, engineers and technology providers to discuss the next phase of India’s aviation infrastructure growth.The conclave focused on how India must move beyond building airports to creating integrated aviation ecosystems that combine connectivity, technology, sustainability and passenger experience.Welcoming the delegates, Pratap Padode, Editor-in-Chief, Infrastructure Today, highlighted the rapid transformation underway i..

Coal Minister Inaugurates Projects and Reviews WCL in Nagpur

G. Kishan Reddy, Coal Minister, inaugurated several key infrastructure projects and reviewed operations of Western Coalfields Limited (WCL) at a programme in Nagpur. The minister opened new facilities aimed at strengthening production capacity and logistics and undertook a comprehensive review of mining, transportation and safety arrangements. He assessed project readiness and operational planning with senior WCL officials and emphasised the need for timely completion and strict adherence to statutory norms. During the visit the minister inspected mining works, mechanisation initiatives, pithe..

Modi To Inaugurate Redeveloped Kakinada Railway Station

Prime Minister Narendra Modi is scheduled to inaugurate the redeveloped Kakinada railway station in Andhra Pradesh on March 31. The ceremony will mark the completion of a redevelopment initiative intended to upgrade the station's infrastructure and services. The event will be presented as a milestone in efforts to modernise regional rail facilities. The redevelopment focuses on improved passenger amenities, enhanced accessibility and better circulation within the station complex. Upgrades are reported to encompass modernised waiting areas, upgraded sanitation facilities and signage, and measur..