RINL seeks proposals to fund working capital in exchange for steel supply

New Delhi: In a first, state-owned Rashtriya Ispat Nigam Ltd (RINL) is exploring a business model wherein it will supply finished steel products to companies that will either fund its working capital or supply one or more raw materials. RINL has invited expressions of interest from companies that have interests in steel and steel-making raw materials to partner with it for the supply of steel.

Who can become a potential partner of RINL?

In the notice, RINL said that the potential partner may participate by way of supplying one or more key raw materials like coking coal /BF coke, iron ore, and in turn take steel products as per mutually agreed terms and conditions. The potential partner may fund working capital and in turn, take steel products as per mutually agreed terms and conditions.

The notice stated that the interested party must be in the business of steel making or raw materials used in the manufacturing of steel. The last date to submit the EOIs is April 15. The EOIs will be accepted through both physical and online modes.

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