Indian government rules out RINL merger with SAIL

Indian government rules out RINL merger with SAIL

The Indian Government ruled out today the merger of Rashtriya Ispat Nigam Limited (RINL) with Steel Authority of India Limited (SAIL). The government announced that a formal proposal for the merger was not submitted to the Steel Ministry. However, the Ministry revealed that the expansion plan of RINL was approved by the Planning Commission. The expansion plan aims to increase the annual production capacity of RINL to 6.3 million tons from the existing 3 million tons.