Government of India has approved the infusion of ₹10,300.00 crore as equity capital in Rashtriya Ispat Nigam Limited (RINL) [including ₹500.00 crore already provided as emergency funds in September, 2024] and conversion of ₹1140.00 crore working capital loan as 7% Non-cumulative Preference Share Capital redeemable after 10 years, to keep RINL as a going concern.
RINL at its full installed capacity has potential to produce 7.3 million tons of liquid steel and 6.7 million tons of saleable steel per annum. India achieved 144.2 million tones steel production in 2023-24. The revival of RINL will help to achieve objectives of National Steel Policy, 2017. The approval of the Government is linked to increase in the capacity utilization of RINL from the current level of around 63% to 92.5% by the 3rd Quarter (October-December) of the Financial Year 2025-26.
