The Indian government has scrapped the proposal to merge Indian state-owned steelmaker Rashtriya Ispat Nigam Limited (RINL) and state-owned iron ore miner NMDC Limited, a government official said on Monday, April 24.
The official said that Indian steel minister Chaudhary Birendra Singh clearly ruled out the possibility of a merger of these two government owned and managed companies while addressing the media at RINL headquarters in the southern Indian port town of Vishakhapatnam on April 23.
However, on the issue of ensuring raw material security for RINL which operates a six million mt per year steel mill at Vishakhapatnam without any captive source of iron ore, the steel minister said that the Ministry of Mines is “taking a very positive view on allocating a captive mine to the steel company.”