Close of the heels of Tata Steel, it is learnt that ArcelorMittal Nippon Steel Limited (AMNS) is keen to participate in the privatization process of the government run Rashtriya Ispat Nigam Limited (RINL), industry sources said Tuesday, August 24.
Though no official confirmation is available from AMNS, the sources said that AMNS is closely studying all options for acquiring 7.3 million mt per year RINL’s steel mill assets for which the Indian government has already commenced the privatization process.
According to the sources, for AMNS, an exclusive flat steel product producer, acquiring RINL, an exclusive long product producer will be very strategic in terms of expanding its product portfolio.
At the same time, acquiring RINL which operates its steel mill in southern port town of Vishakhapatnam will enable AMNS with its production facility in western state of Gujarat to expand its geographic footprint and get closer to markets in east and the south, the sources said.