{"id":143914,"date":"2024-09-28T16:21:04","date_gmt":"2024-09-28T16:21:04","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/09\/28\/govt-mulls-rinls-merger-with-sail-times-of-india\/"},"modified":"2024-09-28T16:21:04","modified_gmt":"2024-09-28T16:21:04","slug":"govt-mulls-rinls-merger-with-sail-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/09\/28\/govt-mulls-rinls-merger-with-sail-times-of-india\/","title":{"rendered":"Govt mulls RINL\u2019s merger with SAIL &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"332\" src=\"https:\/\/i1.wp.com\/static.toiimg.com\/thumb\/msid-113754207,imgsize-23868,width-400,resizemode-4\/113754207.jpg?resize=400,332&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Govt mulls RINL\u2019s merger with SAIL &#8211; Times of India\" title=\"Govt mulls RINL\u2019s merger with SAIL &#8211; Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div data-articlebody=\"1\">\n<div class=\"_s30J clearfix  \">\n<div class=\"MwN2O\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<p>MUMBAI: Government is considering merger of RINL with another state-owned steel company SAIL as one of the options to ensure survival of RINL\u2019s plant and resolve the financial and operational issues being faced by the Andhra Pradesh-based steel maker, sources said.<br \/>To provide capital for continuity of operations at the RINL\u2019s steel plant, plans like sale of land parcel to NMDC and bank loans are also being worked out, they said.The DFS secretary, steel secretary and top officials of public sector lender SBI also held a meeting recently over the RINL issue. SBI has significant loan exposure to RINL.<br \/>\u201cGovernment wants to provide a permanent solution to the issue. One of the options being discussed is the merger of RINL with SAIL,\u201d the sources said. <!-- -->Rashtriya Ispat Nigam<!-- --> (RINL), under the ministry of steel, owns and operates a 7.5 million tonnes plant at Visakhapatnam in Andhra Pradesh. It holds the distinction of being India\u2019s first shorebased integrated steel plant.<br \/>SAIL (Steel Authority of India) also comes under the <!-- -->steel ministry<!-- -->.<br \/>Sources further said that arranging capital for operations is also being considered, besides other measures like having talks with lenders for <!-- -->financial assistance<!-- --> and monetising assets through sale of a land parcel of 1,500-2,000 acres to NMDC for a pellet plant.<br \/>According a steel ministry document, RINL is in serious financial trouble.<\/div>\n<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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