The government is taking steps towards the revival of Rashtriya Ispat Nigam Ltd., and among the options being considered is a possible sale of stake, according to people with knowledge of the matter. RINL, also known as Vizag Steel, is wholly owned by the Government of India. The government is formulating a restructuring plan to ensure RINL's survival in the business, the people told NDTV Profit on Tuesday. The state-run entity is also in discussions with banks for a new restructuring package to enhance working capital, they added. Notably, RINL has been reeling under a financial crisis, with its debt piling up to Rs 18,000 crore.
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