Latest news with #RINL
Hans India
4 days ago
- Business
- Hans India
Several startups incubated at Kalpataru addressing mission-critical issues
Visakhapatnam: As India continues its journey towards becoming a digitally empowered economy, the transformation of traditional industries through Industry 4.0 technologies has become a national priority. Working in tandem with this mission, Software Technology Parks of India (STPI) established the Kalpataru Centre of Entrepreneurship (CoE) on Industry 4.0 in Visakhapatnam with the support of key stakeholders like Rashtriya Ispat Nigam Limited and government of Andhra Pradesh. From intelligent manufacturing to predictive maintenance and connected systems, Industry 4.0 represents a shift that is redefining industrial productivity, safety and sustainability. Over the years, the role of STPI has undergone significant evolution. However, the core focus on strengthening India's technology sector has been transformed through the development of its startup ecosystem. It has established 24 Centres of Entrepreneurship (CoEs) nationwide. Furthermore, STPI has supported over 1,400 startups, facilitated the creation of more than 2,200 products, and enabled over 1,086 Intellectual Property Rights (IPR) filings through its domain-specific CoEs and Next Generation Incubation Scheme (NGIS). Kalpataru offers a purpose-built environment for innovation, providing plug-and-play incubation space, conference and discussion rooms, and access to cutting-edge labs. These include specialised facilities for Industrial IoT (IIoT), Artificial Intelligence and Machine Learning, Augmented and Virtual Reality, Industrial Automation, Robotics, Drone Technology, and 3D Printing. This infrastructure serves as the technological backbone for startups developing solutions aligned with Industry 4.0. The CoE, located in the premises of RINL, is backed by a strong consortium of stakeholders, including Hindustan Shipyard Limited (HSL), IIM Visakhapatnam, Andhra University, and various private sector players. The collaboration ensures that startups are not only supported with infrastructure but also guided by real industry needs and academic rigour. STPI CoEs offer 360-degree support across various aspects, including lab infrastructure, mentorship, IP filing, go-to-market strategy, market access, funding, and more. Startups are encouraged to work on real-world challenges identified by PSUs and industries such as RINL, HSL, and C-DAC. This helps bridge the gap between innovation and implementation, ensuring that the solutions developed are immediately relevant and impactful. Within a short span, Kalpataru has made remarkable progress. It has already onboarded 44 startups, who have collectively generated around Rs.4.75 crore in revenue and raised Rs.1 crore in external funding. The CoE has also seen the successful completion of four market-ready products and 13 working prototypes, showcasing its effectiveness in converting ideas into viable solutions. Several startups incubated at Kalpataru are already addressing mission-critical issues for public sector units. One such startup has developed a drone and AI-based platform for structural analysis of chimneys at the RINL. By deploying drones for inspection and using AI for analysis, the solution enhances safety and accuracy while significantly reducing inspection time. Another startup is focused on detecting and predicting jams in chutes in the coke oven areas of the steel plant. Using IIoT sensors and AI-based predictive models, the startup aims to eliminate unplanned downtime and improve operational efficiency. The first phase, involving sensor implementation, has already shown positive results, validating the potential of Industry 4.0 tools in core industrial settings. In the area of inventory management, a third startup is using drones and LIDAR technology to measure the volume of raw materials such as coal and iron ore stored in open yards. By integrating AI algorithms, the solution calculates tonnage and aids in real-time inventory planning for RINL-VSP. This innovation promises to replace manual processes with faster and more accurate data-driven planning. Through Kalpataru, STPI is creating a new model of innovation where public sector challenges meet private sector ingenuity. The initiative stands as a testament to the power of convergence between government, industry, academia, and startups to build future-ready solutions grounded in real-world relevance. As India positions itself to lead the global Industry 4.0 revolution, initiatives like Kalpataru CoE will play a pivotal role in ensuring industries remain competitive, connected, and capable of sustained growth in a digital-first world.
Hans India
6 days ago
- Business
- Hans India
Steel Exchange India net profit grows to over Rs 10 cr in June quarter
New Delhi: Steel Exchange India on Wednesday posted a multi-fold rise in net profit to Rs 10.23 crore in June quarter, mainly on account of higher income. Steel Exchange India Ltd (SEIL), an integrated steel plant operator, had logged a net profit of Rs 2.58 crore in April-June 2024-25, the company said in a statement. In the first quarter, the company's total income rose to Rs 304.95 crore, up 14.53 per cent from Rs 266.26 crore in the June quarter of 2024-25. During the latest June quarter, the company received a contract for a value up to Rs 210 crore from state-owned RINL for conversion of 1.2 LTPA (lakh tonnes per annum) billets to TMT rebars. "Winning approvals for key infrastructure projects in Andhra Pradesh reaffirm the strength of our brand and the trust placed in our quality," the company's Joint Managing Director Suresh Kumar Bandi said. Part of the Vizag Profiles Group, SEIL operates an integrated steel plant and power unit at Vizianagaram near Visakhapatnam. Rashtriya Ispat Nigam Ltd (RINL), under the Ministry of Steel, is among India's top six steel makers and operates a 7.5-million tonne facility in Visakhapatnam in Andhra Pradesh.
New Indian Express
02-08-2025
- Business
- New Indian Express
No change in disinvestment plan of Visakhapatnam Steel Plant: Centre
VISAKHAPATNAM: The Centre has once again reiterated its stand to fully disinvest its stake in Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant (VSP). This was clarified by Union Minister of State for Steel Bhupathiraju Srinivasa Varma, in a written reply to a question posed by YSRCP Rajya Sabha member YV Subba Reddy. Srinivasa Varma said the Cabinet Committee on Economic Affairs (CCEA), in its meeting held on January 27, 2021, had accorded 'in-principle' approval for the 100% disinvestment of Government of India's stake in RINL, along with management control. Addressing speculation around a possible merger, the Union Minister clarified that no proposal is currently under consideration for merging RINL with Steel Authority of India Limited (SAIL). In response to questions about the assistance provided to RINL, he informed that a total support package of Rs 11,440 crore was approved to help keep the steel plant operational.
Time of India
02-08-2025
- Business
- Time of India
Over 1,000 RINL employees opt for voluntary retirement scheme: MoS Bhupathiraju Srinivas Varma
Advt Disinvestment decision still pending By , ETInfra More than 1,000 employees of Rashtriya Ispat Nigam Ltd (RINL) have opted for the voluntary retirement scheme (VRS), Parliament was informed on Friday. The state-run steelmaker, which is undergoing a disinvestment process, launched the VRS in June 2025 as part of efforts to reduce headcount and operational to, Minister of State for Steel Bhupathiraju Srinivasa Varma told the Rajya Sabha that the benefits under VRS-II are in line with Department of Public Enterprises (DPE) guidelines dated 20 July 2018. He added that the scheme mirrors the benefits provided under the earlier VRS.'RINL offered VRS for opting eligible and interested employees on 14 June 2025. The scheme had commenced on 16 June 2025 and the last date for withdrawal of submitting applications was 18 July 2025. A total of 1,017 employees have opted for VRS,' Varma of 31 March 2024, RINL employed 13,536 regular staff, including 4,390 executives and 9,146 Cabinet Committee on Economic Affairs had, on 27 January 2021, granted "in principle" approval for 100 per cent disinvestment of the Government of India's stake in RINL. The move followed sustained financial stress at the public sector unit, which had accumulated losses and rising disinvestment plan, however, has yet to be completed and has faced opposition from trade unions and political of March-end 2024, RINL's liabilities stood at ₹26,114.92 crore. The company had already exhausted its sanctioned borrowing limits for working capital and was unable to secure additional January 2025, the government approved an infusion of ₹11,440 crore to keep the company operational. 'Of this, an amount of ₹9,824.00 crore has been released to RINL as per quarterly target,' the minister under the Ministry of Steel, operates a 7.5 million tonne per annum plant at Visakhapatnam, Andhra Pradesh. It was established as India's first shore-based integrated steel plant.
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Business Standard
01-08-2025
- Business
- Business Standard
Over 1,000 RINL staff opt for VRS amid disinvestment: MoS Varma
Over 1,000 employees of disinvestment-bound steelmaker RINL have applied for voluntary retirement scheme (VRS), Parliament was informed on Friday. The benefits for VRS-II in RINL are according to guidelines of Department of Public Enterprises (DPE) dated July 20, 2018, Minister of State (MoS) for Steel Bhupathiraju Srinivasa Varma said in a reply to the Rajya Sabha. The minister said the benefits of VRS-II are the same as were extended in VRS. "RINL offered VRS for opting eligible and interested employees on 14.06.2025. The scheme had commenced on 16.06.2025 and the last date for withdrawal of submitting applications was 18.07.2025. (A total of) 1,017 number of employees have opted for VRS," he said. As per an official document, the company employed 13,536 regular employees (4,390 executives, and 9,146 non-executives) as on March 31, 2024. Cabinet Committee on Economic Affairs on January 27, 2021 accorded "in principle" approval for 100 per cent disinvestment of Government of India (GoI) shareholding in RINL, which had mounted huge losses. The government's decision to disinvest RINL, India's first shore-based steel company, attracted huge protests from workers' unions and Opposition parties. To date, the disinvestment has not been completed. As on March 31 2024, RINL had liabilities worth Rs 26,114.92 crore and the company had exhausted the sanctioned borrowing limits from banks for working capital and was not in a position to get further loans, as per the Minister of Steel. In January, the government stepped in to keep RINL as a going concern and approved infusion of Rs 11,440 crore into the company as it was facing serious financial and operational issues. Speaking further, Varma said, "Of this, an amount of Rs 9,824.00 crore has been released to RINL as per quarterly target." Rashtriya Ispat Nigam Ltd (RINL), under the Ministry of Steel, is a steel manufacturing company. It owns a 7.5 million tonne plant at Visakhapatnam in Andhra Pradesh.
