RINL likely to acquire more coal mines
In a notice published by the Indian government, Steel Minister Ram Vilas Paswan pointed out the necessity of acquisition of coal mines to continue the production at the operations of Rashtriya Ispat Nigam Ltd (RINL). The reason for such advice is the raw material shortage experienced in the Indian market. Paswan also advised RINL to form a joint venture to meet its raw material requirements for the long term. Moreover, RINL is planning to increase its liquid steel capacity to 10 million tons by 2020 in order to meet surging demand. As it would be impossible to increase capacity without securing stable raw material source, the company should take the advice of the Steel Ministry into consideration to be able to increase its production.