Arcelor-Mittal-Nippon Steel India is planning to bid for state-owned steel maker Rashtriya Ispat Nigam Limited (RINL) — which has already attracted the interest of Tata Steel, according to a source.
RINL is a special steel making company based in Visakhapatnam, Andhra Pradesh. The company, under the administrative control of the ministry of steel, operates a 7.3 million tonne (mt) plant in the state.
“Arcelor-Nippon Steel India is exploring this option,” the source said while replying to a question if the company would be interested in divestment-bound RINL. An email query sent to Arcelor-Nippon Steel India remained unanswered.
Tata Steel CEO and managing director T.V. Narendran has recently said his company is interested in acquiring RINL as the plant is strategically located on the eastern coast and its acquisition will give it more access to the South East Asian markets, where the company already has a presence.
