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.