RINL Soft-Pedals On 11-mt Expansion Plans
Steel Insights|March 2017

Entry into flat products segment part of future strategy.

Madhumita Mookerji
RINL Soft-Pedals On 11-mt Expansion Plans
Long products major Rashtriya Ispat Nigam Limited, which had drafted a short-term roadmap for 11 million tons (mt) of production by 2018-19, has slowed down a bit on its expansion plans, reliable sources have informed Steel Insights.

The public sector steel major had also drafted a roadmap for 20 mt by 2030 in keeping with the government’s grandiose plans of 300 mt by 2030.

Within this 11-mt expansion strategy, the PSU is also mulling plans to enter the flat products space for which the company will need separate facility. “The detailed project report (DPR) is ready for the 11-mt expansion. All the details with regard to its 7.3 mt expansion is over and the company was working on the 11-mt roadmap. However, seeing the current depressed market scenario, RINL is dragging its feet a little with regard to its expansion plans,” a source informed, adding, “The pace at which RINL was moving ahead with its expansion plans have decelerated.”

As part of its plans to enter the flat products segment, the company has a slab caster in mind within the Vizag Steel plant complex, it is learnt.

Where its capacity is concerned, RINL’s Vizag Steel Plant (VSP) initially had a 3 mt capacity. It revamped this and added a capacity of 3.3 mt and by revamping it further, has taken this up to 7.3 mt by the end of the current fiscal, the source informed. This current capacity expansion involved revamping of old equipment and new capacity addition of 3.3 mt.

The PSU is likely to close the current fiscal of 2016-17 with a production volume of 4.3 mt, the source said, adding that after all RINL’s capacities have gone onstream, the production capacity has been raised to 6.3 mt but it will be producing 4.3 mt this fiscal-end.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM STEEL INSIGHTSView all
Steel's Net Zero mission
Steel Insights

Steel's Net Zero mission

The country’s commitment to achieving Net Zero within a targeted timeframe will now propel its steel sector towards a sustainable future in line with global trends.

time-read
10+ mins  |
November 2021
Fuel Price Hike, Supply Chain Disruption Hurt Festive Sales
Steel Insights

Fuel Price Hike, Supply Chain Disruption Hurt Festive Sales

Supply chain disruptions and fuel price hikes have hurt festive sales in a big way as most auto majors posted decline in sales in October.

time-read
5 mins  |
November 2021
Seaborne coking coal offers remain range-bound
Steel Insights

Seaborne coking coal offers remain range-bound

Seaborne coking coal offers moved in a narrow range in October amid global supply tightness and healthy spot demand.

time-read
3 mins  |
November 2021
Global crude steel output down 8% in September
Steel Insights

Global crude steel output down 8% in September

China manufactured 74 mt in September, fall of 21% y-o-y while India’s production went up by 7% to 10 mt.

time-read
1 min  |
November 2021
MOIL embarks on expansion projects
Steel Insights

MOIL embarks on expansion projects

“Even though our country is blessed with manganese ore reserves, we import 50% of the domestic requirement. We have to lower our import dependence and save precious foreign exchange.” Ram Chandra Prasad Singh, Steel Minister

time-read
5 mins  |
November 2021
Iron ore handled by major ports down 17% in H1
Steel Insights

Iron ore handled by major ports down 17% in H1

The 12 major Indian ports handled 27 mt of iron-ore during H1 of 2021, down by 17% from 33 mt recorded for the corresponding period of previous year.

time-read
1 min  |
November 2021
Shrinking China output to boost India exports
Steel Insights

Shrinking China output to boost India exports

“In the third quarter of 2021, the company actively responded to the pressure from external policies, such as production curtailment and dual control system on energy consumption and intensity, as well as coal resource shortage and surging prices.” Baoshan Iron and Steel Co Ltd

time-read
4 mins  |
November 2021
Indian Railways' iron-ore handling up 25% in H1
Steel Insights

Indian Railways' iron-ore handling up 25% in H1

Indian Railways in April-September of 2021 (H1) transported 84 mt of iron ore, up by 25% over 67 mt during April-September 2020.

time-read
1 min  |
November 2021
September crude steel production up 7.2% y-o-y
Steel Insights

September crude steel production up 7.2% y-o-y

India’s crude steel production in September 2021 grew 7.2 percent to 9.547 million tons (mt) over September 2020 but was down by 3.2 percent from August 2021 output, provisional steel ministry data showed.

time-read
2 mins  |
November 2021
“Five enablers: way forward to sustainable cleaner steel”
Steel Insights

“Five enablers: way forward to sustainable cleaner steel”

Right and scalable technology, appropriate policy guidance by government, access to finance to fund transition, willingness of customers to pay for cleaner products and infrastructure for use of new technologies are the need of the hour for the sustainable and cleaner steel industry, according to Madhulika Sharma, Chief Corporate Sustainability, Tata Steel.

time-read
10+ mins  |
November 2021