♦ The Cabinet Committee on Economic Affairs (CCEA) has approved an Rs.11,440 crore revival package for Rashtriya Ispat Nigam Limited (RINL).

♦ The infusion includes Rs.10,300 crore as equity capital into RINL and Conversion of Rs.1140 crore working capital loan as 7% Non-cumulative Preference Share Capital redeemable after 10 years to keep RINL as a going concern.

♦ RINL is a Schedule–A CPSE under the administrative control of Ministry of Steel with 100% ownership of Government of India.

♦ RINL operates the Visakhapatnam Steel Plant (VSP), the only offshore steel plant under Government sector in the state of Andhra Pradesh. It has an installed capacity of 7.3 Mtpa of liquid steel.

♦ The financial condition of RINL is critical (as on 31.03.2024, the net worth of RINL was Rs.(-)4538.00 crore, current assets were Rs.7,686.24 and current liabilities were Rs.26,114.92 crores).