Disinvestment process of RINL is under progress: Steel Ministry
Clarifying some media reports regarding the hold on the disinvestment process of the state-owned steel maker, the ministry, in a statement, said that the disinvestment process of RINL is in progress.
There is no freeze on the disinvestment process of RINL, the Steel Ministry clarified on Friday.
Clarifying some media reports regarding the hold on the disinvestment process of the state-owned steel maker, the ministry, in a statement, said that the disinvestment process of RINL is in progress.
"There is no freeze on the disinvestment process of RINL," the statement said.
However, efforts are being made by the company to improve the performance of RINL, it added.
Also Read: ITR filing Last Date AY 2023-24: When and where to file Income Tax Returns - Complete guide
Under the Ministry of Steel, Rashtriya Ispat Nigam owns and operates a steel plant with an annual capacity of about 7 million tonnes (MT) located at Visakhapatnam in Andhra Pradesh.
RINL's Vizag steel plant is the country's first shore-based plant where the company manufactures various special products.
The Cabinet Committee on Economic Affairs (CCEA) on January 27, 2021, gave its 'in-principle' approval for 100 per cent disinvestment of the government stake in RINL, also called Visakhapatnam Steel Plant or Vizag Steel, along with RINL's stake in its subsidiaries/joint ventures through strategic disinvestment by way of privatisation.
Catch all the latest stock market updates. For more sports, politics, and other updates visit the Zee Business website.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
06:01 PM IST