Steel Exchange India Limited (SEIL) has secured a contract from Rashtriya Ispat Nigam Limited (RINL) to convert 120,000 tons of billets per year into rebars.
Valued at up to INR 210 crore (USD 24.3 mln), the two-year contract is extendable by one year with mutual agreement. The conversion will be carried out at SEIL’s new rolling mill, helping improve capacity utilization and boost revenues.
The agreement allows SEIL to produce rebars of various sizes under the Vizag Steel brand. The company expects the deal to strengthen its operations and financial performance.
Established in 1999, SEIL is the flagship of Vizag Profiles Group and operates the largest private integrated steel plant in Andhra Pradesh and Telangana. It produces sponge iron, billets, and rebar.
1 USD / 86.1 INR
