Rashtriya Ispat Nigam stake sale plan likely to pick up pace this year

The Centre holds 100% in Visakhapatnam steel plant. RINL is the parent company of Eastern Investments Ltd (EIL), owning 51% in it

The process of the government selling its stake in the Visakhapatnam steel plant, or Rashtriya Ispat Nigam Ltd (RINL), is expected to accelerate this financial year (FY25).

The finance ministry is open to discussing all possibilities to revive the plant, a senior official told Business Standard.

The person said RINL was lacking in equity and was not financially healthy, raising questions about its capacity to draw in investment.

In January 2021, the Cabinet Committee on Economic Affairs (CCEA) gave “in-principle” nod for 100 per cent disinvestment in RINL through strategic privatisation.

The official, however, stated that political cooperation was crucial in