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India’s RINL inks pact with NTPC Limited to supply limestone for new revenue stream

Tuesday, 30 April 2024 10:21:29 (GMT+3)   |   Kolkata
       

Attempting to maximise monetisation of all assets and products, cash-strapped Indian government-run steel producer Rashtriya Ispat Nigam Limited (RINL) has inked a five-year limestone supply contract with power generation company NTPC Limited, company sources said on April 30.

According to the sources, lime chips, a by-product generated from RINL’s 7.3 million mt per year steel mill will be supplied to NTPC Limited for five years to be used as raw material for flue-gas desulphurisation systems being put up across thermal power plants in the country.

This will ensure a non-steel related new revenue stream for RINL and meet its working capital requirements.

Previously, RINL had put up for auction idle assets like surplus land, residential buildings and multi-purpose buildings and allied services to raise funds.


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