"RINL to Activate Third Blast Furnace on December 30 Following MoU with JSPL"

Jindal Steel & Power (JSPL) has formalized a Memorandum of Understanding (MoU) with Rashtriya Ispat Nigam Limited (RINL) to facilitate the operationalization of RINL’s third Blast Furnace-3 (BF-3).

Scheduled to be ignited on December 30, 2023, the furnace is anticipated to enhance production by an impressive 2 lakh tonnes of hot metal per month, according to a notification issued by JSPL to the stock exchanges. The BF-3 at RINL's Visakhapatnam plant has been non-operational since January 2021.

The collaboration with RINL is poised to unlock additional liquid steel for slab casting, enabling the subsequent rolling into Hot Rolled Coils at JSP’s upcoming state-of-the-art Hot Strip Mill in Angul, set for commissioning in the near future.

Bimlendra Jha, Managing Director of Jindal Steel & Power, conveyed congratulations and best wishes to the management and employees of RINL, emphasizing the mutually beneficial nature of the partnership and its substantial contribution to the national exchequer, as stated in the company's official release.

JSPL has significantly augmented the capacity of its Angul plant in Odisha, increasing it from 5.6 million tonnes per annum (MTPA) to an impressive 11.6 MTPA.

RINL, operating under the Ministry of Steel, stands among the top six steel manufacturing companies in India. The company manages three blast furnaces, each boasting a capacity of 2.5 million tonnes (MT), at its Visakhapatnam plant in Andhra Pradesh. However, RINL has faced financial challenges, including mounting losses and high debts.

HBL