Government Proposes ₹8,097 Crore Equity Infusion for RINL Revival
The Indian government has announced plans for an ₹8,097 crore financial package to support the revival of Rashtriya Ispat Nigam Limited (RINL), commonly known as the Visakhapatnam Steel Plant. The equity infusion is intended to stabilize the company's operations as it struggles with significant financial distress and mounting debt. This move signals a commitment to maintaining the strategic public sector undertaking amidst ongoing discussions regarding its long-term viability and potential privatization. The package is expected to provide necessary working capital to improve production levels and address immediate fiscal challenges facing the steel manufacturer.
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