Steel Exchange India has been successfully awarded the conversion contract in recent Bid from a public sector company i.e Rashtriya Ispat Nigam (RINL) to convert 1.20 lakh tons PA Billets into various sizes of TMT Bars of VIZAG STEEL Brand. This conversion work will be
carried out from the company's existing new rolling mill, which will ensure better capacity utilization and increased revenues.
The contract is for two years and can be extended mutually for another one year. The value of the contract is estimated to be up to Rs 210 crore (up to Rs 70 crore per annum for three years).