India’s state-run steel producer Rashtriya Ispat Nigam Limited (RINL) has floated an expression of interest (EoI) seeking domestic or international business partners, company sources said on Tuesday, March 28.
According to the sources, RINL is looking at two business models with prospective domestic or global business partners.
In the first model, a business partner will participate by way of supplying key raw materials like coking coal, metallurgical coke or iron ore and in lieu off-take finished steel or semis from RINL’s mills at mutually agreed prices and volumes.
Under the second business model, a business partner could provide working capital for the operations of RINL and in lieu of which off-take finished steel and semis at mutually agreed terms and conditions.
RINL has set April 15, 2023, as the last date for submission of responses from prospective partners, the sources said.
RINL operates a 7.3 million mt per year capacity steel mill at the southern port town of Vishakhapatnam with rebars, wire rods, blooms, round structural, billets and pig iron in its product portfolio.