• Latest
  • Most Read
After ACC and Ambuja, now Adani eyes RINL

After ACC and Ambuja, now Adani eyes RINL

9 months ago
MOJO Story hacked

Barkha Dutt’s MOJO Story was not hacked. It was a digital victim card

14 hours ago
BBC tax evasion

BBC tax evasion: Income Tax Department finally crushes BBC’s pride

15 hours ago
Malini Parthasarathy resigns

Malini Parthasarathy resigns The Hindu, but with a departing salvo at N Ram

17 hours ago
Bollywood remake

Bollywood films remade in various languages

20 hours ago
Meet SP Singla, the “mastermind” of Bhagalpur collapse

Meet SP Singla, the “mastermind” of Bhagalpur collapse

1 day ago
Balasore Tragedy: The heroes vs vultures

Balasore Tragedy: The heroes vs vultures

1 day ago
Nitish Kumar is the uncrowned king of broken bridges

Nitish Kumar is the uncrowned king of broken bridges

1 day ago
Goyal Best. Nitish Worst – A Comparative Analysis of Railways Ministers since 1998

Goyal Best. Nitish Worst – A Comparative Analysis of Railways Ministers since 1998

2 days ago
Dear relatives of freedom fighters, just being a relative doesn’t make you the know it all

Dear relatives of freedom fighters, just being a relative doesn’t make you the know it all

2 days ago
Clear, unambiguous and brutal: Draupadi Murmu’s message to CJI

Clear, unambiguous and brutal: Draupadi Murmu’s message to CJI

2 days ago
5 Actors who ruined a Franchise as Replacement

5 Actors who ruined a Franchise as Replacement

5 days ago
Rolls Royce Controversy

Rolls Royce Controversy: Another UPA scam on the cards

5 days ago
Rahul Gandhi speech: BJP’s star campaigner is back in action!

Rahul Gandhi speech: BJP’s star campaigner is back in action!

5 days ago
Sportspersons careers

5 Indian Sportspersons Who Destroyed Their Own Careers

5 days ago
Bending rules to save the corrupt, the Congress way

Bending rules to save the corrupt, the Congress way

5 days ago
  • About us
  • Careers
  • Brand Partnerships
TFI Official Merchandise
TFI हिन्दी
TFI Global
Wednesday, June 7, 2023
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    MOJO Story hacked

    Barkha Dutt’s MOJO Story was not hacked. It was a digital victim card

    BBC tax evasion

    BBC tax evasion: Income Tax Department finally crushes BBC’s pride

    Malini Parthasarathy resigns

    Malini Parthasarathy resigns The Hindu, but with a departing salvo at N Ram

    Meet SP Singla, the “mastermind” of Bhagalpur collapse

    Meet SP Singla, the “mastermind” of Bhagalpur collapse

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Report on India: Morgan Stanley gives double thumbs up to Modinomics

    Report on India: Morgan Stanley gives double thumbs up to Modinomics

    India's GDP

    Nominal GDP Growth at 16.1%? National Statistical Office releases India’s Economic accomplishment

    Vada Pav is Just the Tip of the Iceberg: A look into the rich culinary delights of Maharashtra

    India’s Resilience: A Zero Percent Chance of Recession

    Indian PSUs

    Once a butt of all jokes, Indian PSUs are posting better results than Fortune 500 companies

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    new CBI director Praveen sood biography

    Who is Praveen Sood the New CBI Director: Professional Background, Achievements and Significance of the Appointment

    Paramjit Singh Panjwar shot dead

    Paramjit Singh Panjwar shot dead: Keep calm and trust the Indian Armed Forces

    Swarm satellites

    India’s Bold Step towards Satellite Swarm Intelligence: A New Era in Space Technology

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Modi is the boss

    Modi is the boss: “Vedic Mantras” and an ocean of crowd: PM Modi’s Australia tour will echo till eternity

    PM Modi Extends a Diplomatic Olive Branch: A Special Message for Zelensky

    PM Modi Extends a Diplomatic Olive Branch: A Special Message for Zelensky

    NIA High Commission in UK

    NIA will probe the attack on Indian embassy, in UK!

    UK Student Visa rule new

    UK Student Visa Rules: International Students Barred from Bringing Families

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    5 failed Inventions

    5 Inventions that failed to serve their purpose

    What Do You Mean by Bhulekh Uttar Pradesh & Why Should You use It?

    What Do You Mean by Bhulekh Uttar Pradesh & Why Should You use It?

    5 Accidental Inventions

    5 Accidental Inventions that have become essential in our lives

    Sengol Tamil Nadu real picture

    What is Sengol: Tamil Nadu Connection, History, Significance and why it is to be installed in New Parliament

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    Bollywood remake

    Bollywood films remade in various languages

    Dear relatives of freedom fighters, just being a relative doesn’t make you the know it all

    Dear relatives of freedom fighters, just being a relative doesn’t make you the know it all

    5 Actors who ruined a Franchise as Replacement

    5 Actors who ruined a Franchise as Replacement

    Sportspersons careers

    5 Indian Sportspersons Who Destroyed Their Own Careers

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    MOJO Story hacked

    Barkha Dutt’s MOJO Story was not hacked. It was a digital victim card

    BBC tax evasion

    BBC tax evasion: Income Tax Department finally crushes BBC’s pride

    Malini Parthasarathy resigns

    Malini Parthasarathy resigns The Hindu, but with a departing salvo at N Ram

    Meet SP Singla, the “mastermind” of Bhagalpur collapse

    Meet SP Singla, the “mastermind” of Bhagalpur collapse

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Report on India: Morgan Stanley gives double thumbs up to Modinomics

    Report on India: Morgan Stanley gives double thumbs up to Modinomics

    India's GDP

    Nominal GDP Growth at 16.1%? National Statistical Office releases India’s Economic accomplishment

    Vada Pav is Just the Tip of the Iceberg: A look into the rich culinary delights of Maharashtra

    India’s Resilience: A Zero Percent Chance of Recession

    Indian PSUs

    Once a butt of all jokes, Indian PSUs are posting better results than Fortune 500 companies

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    new CBI director Praveen sood biography

    Who is Praveen Sood the New CBI Director: Professional Background, Achievements and Significance of the Appointment

    Paramjit Singh Panjwar shot dead

    Paramjit Singh Panjwar shot dead: Keep calm and trust the Indian Armed Forces

    Swarm satellites

    India’s Bold Step towards Satellite Swarm Intelligence: A New Era in Space Technology

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Modi is the boss

    Modi is the boss: “Vedic Mantras” and an ocean of crowd: PM Modi’s Australia tour will echo till eternity

    PM Modi Extends a Diplomatic Olive Branch: A Special Message for Zelensky

    PM Modi Extends a Diplomatic Olive Branch: A Special Message for Zelensky

    NIA High Commission in UK

    NIA will probe the attack on Indian embassy, in UK!

    UK Student Visa rule new

    UK Student Visa Rules: International Students Barred from Bringing Families

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    5 failed Inventions

    5 Inventions that failed to serve their purpose

    What Do You Mean by Bhulekh Uttar Pradesh & Why Should You use It?

    What Do You Mean by Bhulekh Uttar Pradesh & Why Should You use It?

    5 Accidental Inventions

    5 Accidental Inventions that have become essential in our lives

    Sengol Tamil Nadu real picture

    What is Sengol: Tamil Nadu Connection, History, Significance and why it is to be installed in New Parliament

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    Bollywood remake

    Bollywood films remade in various languages

    Dear relatives of freedom fighters, just being a relative doesn’t make you the know it all

    Dear relatives of freedom fighters, just being a relative doesn’t make you the know it all

    5 Actors who ruined a Franchise as Replacement

    5 Actors who ruined a Franchise as Replacement

    Sportspersons careers

    5 Indian Sportspersons Who Destroyed Their Own Careers

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
No Result
View All Result

HOME » Economy » Business » After ACC and Ambuja, now Adani eyes RINL

After ACC and Ambuja, now Adani eyes RINL

Paurush Gupta
by Paurush Gupta
22 September 2022
in Business
0
After ACC and Ambuja, now Adani eyes RINL
446
VIEWS
Share on FacebookShare on Twitter

Have you heard about the famous Midas touch? Apparently, the Adani Group Chairman Gautam Adani is displaying it in full glory. One after another, he is foraying into new sectors and dethroning the established market players with ease. With calculated risk, he is aggressively putting all his might behind future technologies and companies. Just like Midas, all his calculated risks are paying off.  This is also reflected in his swelling net worth. He is incessantly leapfrogging the top Billionaires chart.

Adani Group forays into a new Sector

The World’s second richest person Gautam Adani follows a well thought out strategy dubbed as self-seller and self-consumer strategy. After consolidating the success in the cement sector, Adani Group is all set to script the same success story in the Steel Sector. Reportedly, the Indian multinational conglomerate is planning to bid for the state-owned Rashtriya Ispat Nigam limited (RINL). The Union government is planning to completely divest its stake in RINL which is expected to happen in January 2023.

Also Read: Why Adani, Ambani and Modi government want to buy a bankrupt company

Being a new entrant in this sector, it is expected that Adani Group will push aggressively as compared to the established steel giants like JSW Steel, Tata Steel and ArcelorMittal Nippon Steel. Furthermore, all these established steel companies had already expanded their business by acquiring dilapidated steel companies. They have put their bets on companies that were on the verge of insolvency and bankruptcy. Additionally, they also focus keenly on brownfield expansions and will give Adani a good run for its money during the bidding process.

Also Read: The “Adanisation” of NDTV is visible now

However, seeing the past trend of acquisitions and premium deals, Adani Group is said to be the favourite to defeat all its competitors, as and when the bids are done for the state-owned RINL.

Earlier, In January, the Cabinet Committee of Economic Affairs (CCEA) gave ‘in-principle’ approval to divest government stake in the state-owned steel producer. After this decision, the government is eyeing to achieve 100% disinvestment of RINL, its subsidiaries and joint ventures.

In April, the Department of Investment and Public Asset Management (DIPAM) floated a request for proposal for appointing a RINL asset value. It received positive responses from around ten entities. Apparently, DIPAM is entrusted with the duty of managing the government’s equity in public sector companies.

RINL will be a valuable asset for the new bidder

Notably, the RINL is also known as Visakhapatnam Steel Plant. The Steel producer has a production capacity around 7.3 million tonne per annum steel production. Currently, it has employs around 6,500 officers, 12,000 regular workers and 20,000 contract workers.

Also Read: After pipping Bill Gates, Gautam Adani closes in on Jeff Bezos

Although RINL has been suffering losses, it has over valuable assets which can be utilised to change the fortune of the steel producer. RINL has over 24,000 acres of land which is valued at ₹1.5 lakh crore. It has strategic access to Gangavaram Port to import raw materials which will be of great significance if utilised properly.

Reportedly, the Modi Government might spin off the excess RINL immovable assets to a separate entity in order to attract more bidders. Earlier, the Adani group made a foray in the cement sector with the Adani-Holcim deal. With the $10 billion deal, the Adani group became the second-biggest player in the cement industry, second only to Ultratech Cement.

Also Read: Acquisition is the new cool for Gautam Adani

Adani’s Steel ambition not a new thing

Furthermore, the Adani group had shown its commitment to enter into the steel sector. In January, it signed a non-binding agreement with South Korea’s Posco. The deal was done with a massive investment of $5 billion. With this, it intends to establish a steel mill at Mundra in Gujarat. Additionally, with the help of Pasco’s modern technology, both the companies want to utilise renewable energy resources and green hydrogen.

The Adani group is on a shopping spree. In all these acquisitions, one thing that comes out is the well thought out strategy to break the mentality of thinking in Silos. The conglomerate has a huge investment in the infrastructure sector and thus wants to cater to its raw material demand from its own subsidiaries. This way it will reduce the cost of the finished project and sustain the growing business with the coherence and mutual support of all its subsidiaries. The ACC and Ambuja deal did wonders for the Indian Multinational giant. Now, it will replicate this success in the steel sector with the acquisition of state-owned steel producer RINL. It hopes to become a giant in cement and steel production, basic raw material needed for infrastructure.

Support TFI:

Support us to strengthen the ‘Right’ ideology of cultural nationalism by purchasing the best quality garments from TFI-STORE.COM

Also Watch

Tags: Adani GroupAdani’s Steel ambitionGautam AdaniNew SectorRIN
ShareTweetSend
Previous Post

Kaun Hai Yeh Log? Understanding the Zombie Celebrations that emerge with the passing of each personality

Next Post

PFI, its modus operandi and why it will not last the year

Paurush Gupta

Paurush Gupta

Columnist, TFIPost. Proud Indian, Karma believer.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

  • Most Read
  • Comments
  • Latest
Xi Jinping, coronavirus, Shinzo Abe, china, Japan, coornavirus, COVID-19, Wuhan Virus

‘Pack up and get out of there,’ Japan to spend $2.2 billion to get Japanese companies to exit China

9 April 2020
ajay devgn karan johar

The man who bullied the Bully – How Ajay Devgn made Karan Johar’s monopoly a joke and forced him to apologize

22 June 2020
Huawei, China, Trump, USA, Xi Jinping

‘Our survival is at stake now,’ Chinese Telecom giant Huawei crumbles after US ban on Semiconductor exports

19 May 2020
T-Series Sonu Nigam Divya Khosla Kumar Bhushan Kumar

T-Series forced to take down Atif Aslam’s video, Divya Khosla trolled. T-Series has a bad day in office

25 June 2020
Meat Ban

A Jain responds to Meat Ban in Mumbai

Public Sector Bank, Government, Bill

Dear bank employees, continue your stride but PSBs will be privatized

anti-Hindi

Anti-Hindi Forever?- In search of a National Language!

Dear Liberals – your Beef Parties are not protests, they just intend to displease the Majority

Dear Liberals – your Beef Parties are not protests, they just intend to displease the Majority

MOJO Story hacked

Barkha Dutt’s MOJO Story was not hacked. It was a digital victim card

6 June 2023
BBC tax evasion

BBC tax evasion: Income Tax Department finally crushes BBC’s pride

6 June 2023
Malini Parthasarathy resigns

Malini Parthasarathy resigns The Hindu, but with a departing salvo at N Ram

6 June 2023
Bollywood remake

Bollywood films remade in various languages

6 June 2023

Popular This Week

5 Actors who ruined a Franchise as Replacement
Cinema

5 Actors who ruined a Franchise as Replacement

by TFIPOST News Desk
2 June 2023
Sportspersons careers
Sports

5 Indian Sportspersons Who Destroyed Their Own Careers

by TFIPOST News Desk
2 June 2023
Wrestlers Protest
Politics

Modi govt. has done what it should have done a long ago with the Toolkit Gang

by Animesh Pandey
2 June 2023
Inspector Avinash
Cinema

“Inspector Avinash”: Randeep Hooda Shines in a Hidden Gem of a Web Series

by Animesh Pandey
31 May 2023
Clear, unambiguous and brutal: Draupadi Murmu’s message to CJI
Politics

Clear, unambiguous and brutal: Draupadi Murmu’s message to CJI

by Pratyush Madhav
5 June 2023

©2023 TFI Media Private Limited

  • Terms of use
  • Privacy Policy
  • Sitemap
No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFI Official Merchandise
TFI हिन्दी
TFI Global
  • About us
  • Careers
  • Brand Partnerships

©2023 TFI Media Private Limited

Follow us on Twitter

and never miss an insightful take by the TFIPOST team

Follow @tfipost