Rashtriya Ispat Nigam Ltd, (abbreviated as RINL), also known as ''Vizag Steel'', is a

public In public relations and communication science, publics are groups of individual people, and the public (a.k.a. the general public) is the totality of such groupings. This is a different concept to the sociological concept of the ''Öffentlichk ...

steel producer based in Visakhapatnam,

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...

. Rashtriya Ispat Nigam Limited (RINL) is the corporate entity of

Visakhapatnam Steel Plant Visakhapatnam Steel Plant is the integrated steel plants of Rashtriya Ispat Nigam Limited in Visakhapatnam. Founded in 1971, the plant focuses on producing value-added steel, producing 5.773 million tonnes of hot metal, 5.272 million tonnes o ...

(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.

Location

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 River Champavathi ( te, చంపావతి) is a small river which originates in the Eastern Ghats at an altitude of 1,200 metres above mean sea level near Andra village and flows eastwards and joins the Bay of Bengal near the village ...

History

RINL was wholly owned by the

Government of India The Government of India (ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, ...

. In November 2010, the company was granted the ''Navratna'' status by the Government of India. In September 2011, the government announced plans to divest 10% of its stake in RINL via an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...

. In February 2021, the Cabinet approved the privatisation of steel-maker Rashtriya Ispat Nigam Ltd (RINL). This decision caused massive protests in Vizag city.

Operations

RINL operates a 7.3 million tonne per annum capacity steel plant in Visakhapatnam. 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 to increase the capacity to 20 million tonnes by 2027.

References

{{authority control Steel companies of India Companies based in Visakhapatnam Manufacturing companies established in 1982 Economy of Visakhapatnam Indian companies established in 1982 Recipients of the Rashtriya Khel Protsahan Puruskar