Visakhapatnam Steel Plant back on path of profitability, says CMD

February 4, 2026 3:59 PM

Visakhapatnam Steel Plant back on path of profitability, says CMD

Public sector enterprise Visakhapatnam Steel Plant has returned to the path of profitability with sustained support from the Central and Andhra Pradesh governments, officials informed Chief Minister N. Chandrababu Naidu on Tuesday. Rashtriya Ispat Nigam Limited (RINL), the corporate entity of the Visakhapatnam Steel Plant, reported a turnaround over the past year and a half, registering a profit of Rs 54 crore in January 2026. The Chief Minister reviewed the progress of the steel plant at a me...

India approves ₹11,440 crore revival package for Rashtriya Ispat Nigam Limited

January 17, 2025 8:17 PM

India approves ₹11,440 crore revival package for Rashtriya Ispat Nigam Limited

The Union Cabinet has approved a ₹11,440 crore revival plan for Rashtriya Ispat Nigam Limited (RINL), the state-owned company operating the Visakhapatnam Steel Plant. The announcement came after a Cabinet meeting chaired by Prime Minister Narendra Modi. In a post on X, PM Modi said, "The Visakhapatnam Steel Plant has a special place in the hearts and minds of the people of Andhra Pradesh. During yesterday’s Cabinet meeting, it was decided to provide equity support of over Rs. 10,000 crore f...