Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
· Govt reportedly evaluating merger of SAIL, NMDC with debt-laden RINL.
· ₹11,440 Cr infusion signals possible pre-merger support for Vizag Steel.
· Aims to consolidate PSU strength for efficiency and self-reliance.
The Indian government is reportedly exploring a strategic merger of major steel public sector undertakings (PSUs) — SAIL and NMDC — with RINL (Vizag Steel), following a significant ₹11,440 crore capital infusion into the latter. This move is seen as part of a broader plan to streamline operations, enhance efficiency, and secure long-term viability of state-run steel units.
RINL has faced mounting financial stress, operating without captive iron ore mines and posting consistent losses. With the recent financial aid, the government seems keen on unlocking synergies through consolidation, combining NMDC's mining strength and SAIL's production prowess with RINL's facilities. This proposal aligns with India’s vision to build globally competitive steel giants under 'Aatmanirbhar Bharat'.
If approved, this could result in the formation of a PSU steel behemoth, optimizing resources, improving capacity utilization, and stabilizing RINL’s operations. However, challenges around valuation, operational integration, and stakeholder consensus remain.
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