Indian government-run steel producer Rashtriya Ispat Nigam Limited has entered into a contract manufacturing agreement with Steel Exchange India Limited (SEIL) for the conversion of billet to rebar, company sources said on Wednesday, July 23.
The sources said that, under the contract manufacturing agreement, SIEL would use its existing rolling mill capacity to convert 120,000 mt of billet supplied to RINL to rebar and subsequently for sale under the “RINL” brand name.
The agreement is for an initial period of two years with provision for an extension by one additional year.
This deal strengthens SEIL’s role in the domestic steel supply chain and supports RINL’s production goals through a strategic public-private partnership, the sources said.
