SEA President Katam SS Chandra Rao & Ex-President Y.K. Garg Unfurled National Flag At SEA Bhavan On Republic Day
We faced many challenges to overcome by the situation raised due to announcement of strategic sale of RINL in Jan 2021, said Rao
On Republic Day, I extend my heartfelt congratulations and gratitude to all. The past four years have been exceptionally tough and challenging for RINL. Since the announcement of its strategic sale in January 2021, we have faced significant obstacles. SEA has worked diligently alongside SEFI and NCOA to advocate for retaining the steel sector in the strategic category and exploring the possibility of merging Steel PSUs, said Steel Executives’ Association President, Katam SS Chandra Rao.
Due to heavy financial burdens—stemming from the cost of iron ore, interest on expansion loans, limited working capital, and raw material shortages—RINL could only operate at 4–4.5 million tonnes, despite its 7.3 MT capacity. In response, the Steel Ministry prioritized reducing production costs, and RINL management has focused on addressing major cost factors, such as Ferro alloys consumption, he said.
During FY 2024–25, under the leadership of the Director of Operations, CGM Works, and HODs of QATD and SMS 1 & 2, a collective effort by the Quality Wing, Stores Management, and SMS teams resulted in significant improvements in Ferro alloys inspection and consumption. The commendable work of the QATD process control team, guided by the CGM Works In-Charge, GM Technology, and QATD HOD, has ensured quality while optimizing Ferro alloys usage, Rao added.
SEA also expresses its gratitude to the government for approving the ₹11,400 crore revival package for RINL under the leadership of Prime Minister Narendra Modi, Chief Minister of Andhra Pradesh N. Chandrababu Naidu, MLA Palla Srinivas, and MP Shri Bharat. The Prime Minister’s acknowledgment of steel’s importance in his tweet after the cabinet approval was truly encouraging. Former SEA President Shri Y.K. Garg also deserves recognition for his efforts in convincing the Government of India for this revival package, said Rao.
SEA once again appealed to all stakeholders of RINL to retain the steel sector in the strategic category and to work toward the merger of SAIL and NSL for a stronger and more unified steel industry.
