Companies

Centre will take informed decision on sell-off: RINL CMD

Ch.R.S Sarma Visakhapatnam | Updated on January 08, 2018 Published on January 05, 2018

The Centre will decide on the proposed disinvestment of RINL’s Visakhapatnam Steel Plant “after taking into account all aspects”, RINL Chairman and Managing Director P Madhusudan said on Friday.

He was responding to queries by media persons on the sidelines of a national convention held by the Computer Society of India (CSI) on disruptive technologies in the IT sector, where he was the chief guest.

The steel plant unions affiliated to CITU and AITUC had staged separate demonstrations on Thursday at the plant, following the alleged comments of Vishnu Deo Sai, Union Minister of State for Steel, on a possible disinvestment of RINL.

The Centre will decide on a sale after studying the market conditions, the expansion project of the steel plant and several other factors, said Madhusudan.

In response to a question on the present market scenario, he said it has improved considerably, and the performance of the steel plant in the next quarter is bound to be good. But there may be some hike in cost of production, as there was a rise in the prices of coal and iron ore recently, he added.

Published on January 05, 2018
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