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Govt assigns additional charge of RINL CMD to Ajit Kumar Saxena

This temporary arrangement comes as current CMD of RINL, Atul Bhatt, is on personal leave.

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8 months ago

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The government has assigned Ajit Kumar Saxena, currently serving as the Chairman and Managing Director (CMD) of MOIL, an additional role as CMD of Rashtriya Ispat Nigam Ltd (RINL). The Ministry of Steel confirmed the appointment through an order issued on September 29, 2024, stating that Saxena would take on the new responsibility with immediate effect.

This temporary arrangement comes as the current CMD of RINL, Atul Bhatt, is on personal leave from September 9 to November 30, coinciding with his retirement date.

RINL, a steel manufacturing entity under the Ministry of Steel, operates a 7.5 million tonne plant in Visakhapatnam, Andhra Pradesh. The company has been grappling with severe financial challenges, operating at minimal capacity and accumulating over Rs 350 billion in dues, putting it at risk of being classified as a non-performing asset by banks.

According to a Steel Ministry document, RINL currently has three blast furnaces (BF) of 2.5 MT capacity each, but only one is operational. The ministry is working with the finance ministry to implement measures aimed at stabilising the company and ensuring it remains a ‘going concern.’
(ET)

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Cement demand to rise 7% in FY26

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3 days ago

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May 29, 2025

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India’s cement demand is projected to grow 6.5–7.5 per cent in FY26, supported by a ~10 per cent increase in central infrastructure spending and prospects of a strong monsoon, which could boost rural housing. In FY25, demand had moderated to 4.5–5.5 per cent due to electionled disruptions, sluggish project execution, and weak real estate activity. Infrastructure will remain the key demand driver, contributing ~30 per cent of total cement consumption— led by roads, railways, irrigation, and urban development. Notably, 12 major states have raised their budget allocations by 11 per cent, fuelling optimism. Rural housing (32–34 per cent share) is expected to gain from rising farm incomes, PMGSY, MNREGA, and higher average rural wages. Urban housing is likely to recover on a low base, improved pace under PMAY-Urban, and interest rate cuts.

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World’s First Book on Carbon Steel Sourcing Launched by Hero Steels CEO

Panckaj N Umrania’s book offers strategic insights into steel sourcing.

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3 months ago

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February 27, 2025

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The global steel industry marked a milestone with the launch of “Mastering Carbon Steel Sourcing: From Domestic Suppliers to Global Partnerships,” the world’s first book on carbon steel sourcing. Authored by Panckaj N Umrania, Executive Director of KND Steel, the book was unveiled by Jitendra Sharma, ED & CEO of Hero Steels Ltd.
The event saw participation from industry leaders, policymakers, and representatives from JBM Group, Havells India, Philips Lighting India, Air India, and Northern Railways, underscoring its industry relevance.
Published by Academic Foundation India, the book serves as a guide for business leaders and sourcing professionals, covering supply chain optimisation, quality control, and cost management. It also highlights India’s growing role in global steel sourcing.
Speaking at the launch, Umrania stated, “This book addresses key sourcing challenges and provides practical solutions to help businesses enhance profitability.”
The event concluded with a panel discussion on the future of steel sourcing and supply chain innovation, reinforcing the book’s significance in transforming global sourcing strategies.
                     

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Viva ACP Unveils Bricklyn: A Fusion of Tradition and Innovation

The new ACP series blends classic brick aesthetics with modern engineering.

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3 months ago

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February 27, 2025

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Viva ACP, Asia’s largest aluminium composite panel (ACP) manufacturer, has launched Bricklyn, a new addition to its Santa Fe series. Inspired by the strength of traditional bricks and reimagined with contemporary design, Bricklyn merges heritage aesthetics with advanced technology.
The design draws from Brooklyn’s urban energy and the stacking ingenuity of Jenga, offering structural integrity, aesthetic appeal, and creative flexibility. Available in a range of muted and bold hues, the panels allow architects to craft dynamic, visually striking façades.
Engineered using Stucco Textures and Synchro Technology, Bricklyn ensures durability and resilience with a 15-year warranty, reinforcing Viva ACP’s commitment to quality.
“Bricklyn is more than a cladding solution; it’s a tribute to tradition and innovation,” the company stated, positioning the series as a benchmark for modern architectural design.
               

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