Indian government-run steel producer Rashtriya Ispat Nigam Limited (RINL) is planning to restart its third blast furnace, which has been idle since January 2022, amid protests from workers and employees, company sources said on Tuesday, December 19.
The sources said workers, employees and trade unions are opposing the resumption of operations of the idle blast furnace by handing it over to an “outside party”. RINL management in an official statement said, “RINL has prepared a strategic plan for infusion of much-needed liquidity in the company, which has been discussed with its executives and workers’ unions and the management is moving ahead with its plan to start the third blast furnace on December 30.”
“RINL products are known for their highest quality in both domestic and export markets due to its stringent quality checks at each stage of its manufacturing process. To start generating cash profits, it is imperative that RINL’s production matches its installed capacity,” the company statement said.
However, trade unions at RINL said that the management of the company had worked out a deal with a private steel company to hand over the idle steel plant which “in effect was a unit-wise privatization of the government company.”
