Indian government-run steel producer, Rashtriya Ispat Nigam Limited (RINL) will restart its third blast furnace (BF) by the end of this month, company sources said on Monday, June 16.
The sources said that currently RINL is operating two BFs with total template capacity of 5 million mt of crude steel per year and with the commissioning of the third BF, another 2.5 million mt of template capacity will be added.
RINL has been forced to shut down the BF last year, in face of acute financial crisis and lack of funds to procure raw materials.
In January this year, the government approved a financial bail-out package worth $1.34 billion comprising cash infusion through fresh equity and debt restructuring following which RINL is now attempting to stabilise production and achieve financial viability.
