The Indian government invests ₹1,650 crore in struggling steelmaker RINL amid privatization plans.

The Indian government has invested about ₹1,650 crore in Rashtriya Ispat Nigam Ltd (RINL), a state-owned steel manufacturer struggling with financial difficulties and debts exceeding ₹35,000 crore. This funding aims to stabilize operations amid plans for full privatization approved in January 2021. Workers' unions oppose the privatization, citing the absence of captive iron ore mines as a key factor in RINL's financial woes.

November 03, 2024
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