RINL (Rashtriya Ispat Nigar) also known as Vizag Steel operates a 6.3 million tonne per annum capacity steel plant in Visakhapatnam. It is a Navratna PSE under the ministry of steel.
The company had invited a tender for export of 11,008 MT billet to Nepal which had expired on 12th July 2017. The minimum offered quantity was 2,752 MT.
Another Open tender issued by RINL which had its due date on 18th July 2017. The tender (Quantity – 46,000 MT) was for mix products – Billet, Bloom and Round, out of which Billet was 15,000 MT.
According to the company sources, “The tender for Nepal is heard to be canceled because of the high bids received for open tender were at USD 434/MT FoB as compared to the tender specifically for Nepal which were at USD 405-410/MT ex-mill.”
Vizag Steel’s last tender for export of 90*90mm billet to Nepal had its bid submission due date on 20 Jun’17. As per market sources, 90*90 mm billet was sold at above USD 400/MT (ex-mill).
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