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The government is likely to decide next month whether to grant additional funds to beleaguered steel manufacturer Rashtriya Ispat Nigam Ltd (RINL), which has total outstanding liabilities of about Rs 35,000 crore, according to multiple sources familiar with the matter.
The Centre is awaiting a technical viability report, due November, from a UK-based consulting firm.
"Following the report's submission, both the government and the banks will evaluate the necessary funding for the company and will provide financial support accordingly,” said a senior government official on the condition of anonymity.
RINL is the corporate entity of Visakhapatnam Steel
