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May.09.2021 1USD=6.4678RMB
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Indian Government Approves Privatization of RINL

//en.steelhome.cn [SteelHome] 2021-02-09 11:06:15

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According to reports, Indian state-owned steel producer Rashtriya Ispat Nigam Limited (RINL) has received approval for privatization.

RINL currently has a finished steel plant with an annual output of 7.3 million tons in Visakhapatnam, a port city in southern India, and two raw material production subsidiaries, Orissa Minerals Development Company Limited (OMDC) and Bisra Stone Lime Company Limited(BSLC).

RINMOIL Ferro Alloys Private Limited is a joint venture with manganese mining company MOIL Limited, and RINL Powergrid TLT Private Limited (RPTPL) is a joint venture with Power Grid Corporation of India Limited (POWERGRID).

The government's privatization of RINL has raised the uncertainty of the high-grade special steel cooperation proposed by South Korean steel producer POSCO. The two companies have signed a memorandum of understanding (MOU) and established a working group to promote cooperation.

Source: YIEH
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