Deals21 Jul 2025, 01:06 pm
Steel Exchange India Ltd Secures 1.20 Lakh Tons Conversion Contract from Rashtriya Ispat Nigam Limited
AI Summary
Steel Exchange India Ltd has been awarded a conversion contract from Rashtriya Ispat Nigam Limited (RINL), a public sector company, to convert 1.20 lakh tons per annum (PA) of billets into various sizes of TMT Bars of VIZAG STEEL Brand. The contract, which will be carried out at the company’s existing new rolling mill, is for 2 years and can be extended mutually for another 1 year. This conversion work is expected to ensure better capacity utilization and increased revenues for the company.
Key Highlights
- Steel Exchange India Ltd secures a conversion contract from Rashtriya Ispat Nigam Limited (RINL) for 1.20 lakh tons PA of billets into TMT Bars of VIZAG STEEL Brand.
- The contract will be carried out at the company’s existing new rolling mill, ensuring better capacity utilization and increased revenues.
- The contract is for 2 years and can be extended mutually for another 1 year.
- The conversion work is expected to contribute to the company's growth and financial performance.