Rashtriya Ispat Nigam Ltd, (abbreviated as RINL), also known as Vizag Steel, is a public steel producer based in Visakhapatnam, India. Rashtriya Ispat Nigam Limited (RINL) is the corporate entity of Visakhapatnam Steel Plant (VSP), India's first shore-based integrated steel plant built with state-of-the-art technology. Visakhapatnam Steel Plant (VSP) is a 7.3 MTPA plant. It was commissioned in 1992 with a capacity of 3.0 MTPA of liquid steel. The company subsequently completed its capacity expansion to 6.3 MTPA in April 2015 and to 7.3 MTPA in December 2017. The company is having one subsidiary, viz. Eastern Investment Limited (EIL) with 51% shareholding, which in turn is having two subsidiaries, viz. M/s Orissa Mineral Development Company Ltd (OMDC) and M/s Bisra Stone Lime Company Ltd (BSLC). The company has a partnership in RINMOIL Ferro Alloys Private Limited and International Coal Ventures Limited in the form of Joint Ventures with 50% and 26.49% shareholding respectively.
The steel plant is in the southern part of Visakhapatnam city, Andhra Pradesh state of India. The company has blast furnace grade Limestone captive mine at Jaggayyapeta (Krishna District), a captive mine for Dolomite at Madharam (Khammam), a manganese ore captive mine at Cheepurupalli (Vizianagaram). It also has a mining lease for river sand on the river Champavathi.
History
RINL was wholly owned by the Government of India. In November 2010, the company was granted the Navratna status by the Government of India.[3][4] In September 2011, the government announced plans to divest 10% of its stake in RINL via an initial public offering. In February 2021, the Cabinet approved the privatisation of steel-maker Rashtriya Ispat Nigam Ltd (RINL). This decision caused massive protests in Vizag city.[5][6][7]
Operations
RINL operates a 7.3 million tonne per annum capacity steel plant in Visakhapatnam.[8] During the initial periods, the company suffered huge losses. Later the profits have gone up by 200% making it the only steel industry to achieve such a target. Its annual capacity is expected to reach almost 7.5 million tonnes by 2020. RINL plans to invest ₹60,000 crore (US$7.5 billion) to increase the capacity to 20 million tonnes by 2027.[9]
References
^"RINL Formation Day Celebrated" (PDF). Rashtriya Ispat Nigam Limited. Retrieved 2 September 2011.
^"RINL conferred Navratna status" (PDF). Rashtriya Ispat Nigam Limited. 16 November 2010. Retrieved 2 September 2011.
^"Visakhapatnam Steel Plant unions serve strike notice". 10 June 2012.
^"Cabinet clears privatisation of Rashtriya Ispat Nigam - The Hindu Bus…". archive.vn. 7 February 2021.
^"Doctors in Kerala observe fast protesting anomalies in pay revision |…". archive.vn. 7 February 2021.
^"India to Sell 10% Stake in Rashtriya Ispat Nigam". The Wall Street Journal. 2 September 2011. Retrieved 2 September 2011.
^"Expansion Plans". Rashtriya Ispat Nigam Limited. Retrieved 2 September 2011.
^"RINL to invest Rs 60K cr to have 20 MT capacity by 2027". Business Standard. Press Trust of India. 3 October 2013. Retrieved 23 October 2016.
January 07, 2023
rashtriya, ispat, nigam, this, article, contains, content, that, written, like, advertisement, please, help, improve, removing, promotional, content, inappropriate, external, links, adding, encyclopedic, content, written, from, neutral, point, view, february, . This article contains content that is written like an advertisement Please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view February 2021 Learn how and when to remove this template message Rashtriya Ispat Nigam Ltd abbreviated as RINL also known as Vizag Steel is a public steel producer based in Visakhapatnam India Rashtriya Ispat Nigam Limited RINL is the corporate entity of Visakhapatnam Steel Plant VSP India s first shore based integrated steel plant built with state of the art technology Visakhapatnam Steel Plant VSP is a 7 3 MTPA plant It was commissioned in 1992 with a capacity of 3 0 MTPA of liquid steel The company subsequently completed its capacity expansion to 6 3 MTPA in April 2015 and to 7 3 MTPA in December 2017 The company is having one subsidiary viz Eastern Investment Limited EIL with 51 shareholding which in turn is having two subsidiaries viz M s Orissa Mineral Development Company Ltd OMDC and M s Bisra Stone Lime Company Ltd BSLC The company has a partnership in RINMOIL Ferro Alloys Private Limited and International Coal Ventures Limited in the form of Joint Ventures with 50 and 26 49 shareholding respectively Rashtriya Ispat Nigam LimitedTypePublic Sector UndertakingIndustrySteel IronFounded18 February 1982 1982 02 18 1 HeadquartersVisakhapatnam IndiaKey peoplePradosh Kumar Rath Chairman amp MD ProductsWire rods TMT Re bars rounds squares flats angles channels Rail WheelsServicesSteel productionRevenue 20 492 03 crore US 2 6 billion 2018 2019 2 Net income 96 71 crore US 12 million 2018 19 2 Total assets 35 201 31 crore US 4 4 billion 2018 19 2 Total equity 7 352 28 crore US 920 million 2018 19 2 OwnerGovernment of IndiaNumber of employees17 574 March 2019 2 SubsidiariesEastern Investments Limited EIL The Orissa Minerals Development Company Limited OMDC The Bisra Stone Lime Company Limited BSLC Websitewww wbr vizagsteel wbr com Contents 1 Location 2 History 3 Operations 4 ReferencesLocation EditThe steel plant is in the southern part of Visakhapatnam city Andhra Pradesh state of India The company has blast furnace grade Limestone captive mine at Jaggayyapeta Krishna District a captive mine for Dolomite at Madharam Khammam a manganese ore captive mine at Cheepurupalli Vizianagaram It also has a mining lease for river sand on the river Champavathi History EditRINL was wholly owned by the Government of India In November 2010 the company was granted the Navratna status by the Government of India 3 4 In September 2011 the government announced plans to divest 10 of its stake in RINL via an initial public offering In February 2021 the Cabinet approved the privatisation of steel maker Rashtriya Ispat Nigam Ltd RINL This decision caused massive protests in Vizag city 5 6 7 Operations EditRINL operates a 7 3 million tonne per annum capacity steel plant in Visakhapatnam 8 During the initial periods the company suffered huge losses Later the profits have gone up by 200 making it the only steel industry to achieve such a target Its annual capacity is expected to reach almost 7 5 million tonnes by 2020 RINL plans to invest 60 000 crore US 7 5 billion to increase the capacity to 20 million tonnes by 2027 9 References Edit RINL Formation Day Celebrated PDF Rashtriya Ispat Nigam Limited Retrieved 2 September 2011 a b c d e Balance Sheet 31 03 2019 RINL conferred Navratna status PDF Rashtriya Ispat Nigam Limited 16 November 2010 Retrieved 2 September 2011 Visakhapatnam Steel Plant unions serve strike notice 10 June 2012 Cabinet clears privatisation of Rashtriya Ispat Nigam The Hindu Bus archive vn 7 February 2021 Doctors in Kerala observe fast protesting anomalies in pay revision archive vn 7 February 2021 India to Sell 10 Stake in Rashtriya Ispat Nigam The Wall Street Journal 2 September 2011 Retrieved 2 September 2011 Expansion Plans Rashtriya Ispat Nigam Limited Retrieved 2 September 2011 RINL to invest Rs 60K cr to have 20 MT capacity by 2027 Business Standard Press Trust of India 3 October 2013 Retrieved 23 October 2016 Retrieved from https en wikipedia org w index php title Rashtriya Ispat Nigam amp oldid 1122016952, wikipedia, wiki, book, books, library,
