Attempting to maximise monetisation of all assets and products, cash-strapped Indian government-run steel producer Rashtriya Ispat Nigam Limited (RINL) has inked a five-year limestone supply contract with power generation company NTPC Limited, company sources said on April 30.
According to the sources, lime chips, a by-product generated from RINL’s 7.3 million mt per year steel mill will be supplied to NTPC Limited for five years to be used as raw material for flue-gas desulphurisation systems being put up across thermal power plants in the country.
This will ensure a non-steel related new revenue stream for RINL and meet its working capital requirements.
Previously, RINL had put up for auction idle assets like surplus land, residential buildings and multi-purpose buildings and allied services to raise funds.