India–US Trade Tensions Rise Over Steel and Auto Tariffs NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant (VSP), has opted to sell a part of its non-core assets (13.89 acres) for a reserve price value of ₹480 crore as part of its efforts to overcome financial challenges. A Request for Proposal (RFP) was also released earlier this month, with the pre-bid meeting scheduled for February 28. The e-auction will begin on March 14, and the deadline for submitting earnest money deposits is March 5.
National Buildings Construction Corporation (NBCC), RINL-VSP, and National Land Monetisation Corporation (NLMC) convened an investors meeting on the plant grounds yesterday, stating that the purpose of the gathering was to explain the questions made by interested parties in purchasing the assets.
As per official information, the RINL presently owns different land plots or blocks measuring a total of 13.89 acres at HB Colony- Maddilapalem (11.80 acres), Auto Nagar (2.0 acres) and Pedagantyada (0.089 acres) in Visakhapatnam city. At least 125 investors and others attended Tuesday’s meeting that showcased the property (non-core assets). A Request for Proposal (e-auction) was also issued for 67,277 square yard of land (plots and blocks).
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