Question : Rashtriya Ispat Nigam Limited

(a) whether the Government has taken note of the protests against its decision for 100 percent disinvestment of the shares in Rashtriya Ispat Nigam Limited (RINL) and if so, the details thereof;

(b) whether the Government intends to reconsider its in-principle approval for the disinvestment of RINL, taking into view that it is a Navaratna Company playing crucial role in the public sector and if so, the details thereof and if not the reasons therefor;

(c) whether the hardship faced by RINL in steel production is due to the lack of captive iron ore mines and if so, the details thererof;

(d) whether the Government intends to allocate such mines to ensure a level playing ground and if so, the details thereof and if not, the reasons therefor?

THE MINISTER OF STEEL (SHRI RAM CHANDRA PRASAD SINGH)

(a)&(b): Various representations have been received in the Ministry for reconsideration of the decision on disinvestment of Rashtriya Ispat Nigam Limited (RINL). The decision for strategic disinvestment of RINL has been taken in line with New Public Sector Enterprise (PSE) Policy for Atmanirbhar Bharat notified by the Government. The decision on disinvestment of RINL is not under reconsideration. Strategic disinvestment of Government of India’s equity will lead to infusion of capital for optimum utilisation, expansion of capacity, infusion of technology and better management practices. This will result in higher production and productivity and expansion of direct and indirect employment opportunities.

(c)&(d): RINL has tied up with NMDC to meet the requirement of Iron ore for steel making. RINL has requested various State Governments viz. Odisha, Chhattisgarh and Andhra Pradesh for recommending reservation of iron ore deposit under Section 17A(2A) of MMDR Act 2015 to the Ministry of Mines, Govt. of India. Ministry of Steel has also requested Government of Odisha for reservation of an Iron ore block in favour of RINL.

********