The central government is planning to announce a ₹8,097 crore financial package to Rashtriya Ispat Nigam Limited (RINL) for its revival.
The proposed equity infusion is expected to provide immediate operational relief to the RINL, which has been under severe financial stress due to lack of captive coal mines.
According to a senior official, the Union finance ministry has approved the financial package last week and it is expected to be formally announced after ratifying the decision in the next Union cabinet meeting.
The RINL, India's only shore-based integrated steel plant, currently has a production capacity of around 7–7.3 million tonnes, with the potential to expand up to 17 million tonnes with fresh investments.
However, the RINL is still facing higher production costs compared to private and integrated steel producers, making it dependent on repeated government support.
