Privatisation of PSU: Cabinet looking for sale plan of RINL
The Cabinet has already taken up the approval of strategic disinvestment. Currently, the Government holding a 100 percent stake in the Navrata steel PSU under the steel ministry.
New Delhi: The Strategic sale of the Navrata steel PSU and the corporate entity of Visakhapatnam Steel Plant Rashtriya Ispat Nigam Limited (RINL). The Cabinet has already taken up the approval of strategic disinvestment.
Currently, the Government holding a 100 percent stake in the Navrata steel PSU under the steel ministry. RINL, with an exclusive product mix of longs, is the largest producer of “Bars and Rods” in the country with a market share of 9.5% in 2018–19 (Source: JPC) and has recorded an annual turnover of Rs. 20,844 crore (Prov.) in 2018–19.
It is one of the major players in the country for Long Products having three Captive Mines and 25 Marketing Branches Pan India. Forged Wheel Plant is another unit of RINL being set up at Raebareli, Uttar Pradesh