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State-owned RINL (Rashtriya Ispat Nigam Limited), which has a net debt of Rs 19,592 crore in financial year 2018-19, is looking at raising Rs 1,000 crore from the sale of its 22.19-acre land. This land is located in the heart of Visakhapatnam city, in Andhra Pradesh.
RINL is also called Visakhapatnam Steel Plant or Vizag Steel.
On Thursday, NBCC had announced signing an MoU with RINL for redevelopment and monetisation of its 22.19 acres of land in Visakhapatnam. The company expects to get around Rs 1,000 crore as the market price of land is around Rs 1 lakh per square yard. The amount raised would be utilised to pay back portion of debt of the company, a source in the company told PTI. However, the value of the project would be ascertained after the preparation and finalisation of a Detailed Project Report (DPR). NBCC would conduct the DPR and submit it to RINL.
Sitharaman said strategic disinvestment of the government s equity will lead to infusion of capital for optimum utilisation, expansion of capacity, infusion of technology and better management practices. This will result in higher production and productivity and expansion of direct and indirect employment opportunities.
Solar Power plants inaugurated at RINL
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Solar Power plants inaugurated at RINL
Siva G / Feb 9, 2021, 22:53 IST
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VISAKHAPATNAM: RINL-VSP in its endeavor to generate more renewable energy resources, took up the installation of solar power panels on the rooftops of the big buildings where there is scope to capture abundant sunlight.
Rooftop solar power plant at Administrative building was inaugurated by Kishore Chandra Das, Director (Personnel) and KK Ghosh, Director (Projects) on Tuesday.
The Rooftop solar plants on the Town Administration Building and Visakha Steel General Hospital (VSGH) were also inaugurated. With this, installation of solar power plants of a total capacity of 500 KW on rooftops is completed. RINL is already running a 5 MW Solar Power Plant.
Amid growing outcry against the Centres move to privatise Rashtriya Ispat Nigam Limited (RINL) which has a steel plant in Visakhapatnam, Chief Minister Y S Jagan Mohan Reddy has written to Prime Minister Narendra Modi to reconsider the decision.