The frantic efforts are on to lift the Rashtriya Ispat Nigam Limited (RINL) out of the financial crisis. The sense of urgency can be understood by the fact that a high-level meeting is scheduled to be held in New Delhi on tomorrow (8th October). Keeping this meeting in mind, the Steel Authority of India Limited (SAIL)’s independent director Sagi Kasi Viswanatha Raju has urged the Union Government to go for the merger of Rashtriya Ispat Nigam Limited (RINL-Visakhapatnam Steel Plant) and NMDC Steel (NSL) (Jagdalpur in Chhattisgarh) with Steel Authority of India Limited (SAIL).
As disclosed in an interview on October 6, Raju is also peddling for the creation of one mega Central Public Sector Enterprises amalgamating these three Public Sector Units (PSUs). If it happens it would become the 10th largest steel producer in the world in future.
Raju also claimed to have sent a detailed note to the Prime Minister’s Office (PMO) and Niti Aayog to discuss the issues of RINL’s take over by SAIL. It should be noted here that RINL’s Visakhapatnam plant is facing existential crisis and needs immediate support system to continue as PSU. Raju also revealed that many BJP leaders have urged the Centre for the same and Union Minister for Steel H D Kumara Swamy has responded positively to his proposal of RINL and NSL being taken over by SAIL.
