Rashtriya Ispat Nigam stake sale plan likely to pick up pace this year

The stake sale of the Visakhapatnam plant, or Rashtriya Ispat Nigam Limited (RINL), is expected to accelerate in the current fiscal year (FY25). 

The finance ministry is open to discuss all possibilities to revive the plant, a senior official told Business Standard.  

According to him, the company (RINL) is lacking in equity and is not financially healthy, raising questions about who will invest the necessary funds,” the official told Business Standard. 

 In January 2021, the Cabinet Committee on Economic Affairs (CCEA) gave “in-principle” approval for 100 per cent disinvestment in RINL through strategic privatization. 

The official however