Steel Exchange India (SEIL) has bagged an order from Rashtriya Ispat Nigam (RINL) for the conversion of billets into TMT rebars of Vizag Steel brand.

The agreement involves converting 1.20 lakh tonne of billets per annum into various sizes of TMT bars. The contract is for a period of two years with a provision to extend it for an additional one year with mutual consent. The total value of this contract is up to Rs 210 crore.

Steel Exchange India will handle the conversion process, contributing to the enhanced availability of quality steel products in the domestic market. The partnership underscores SEIL’s growing role in India’s steel industry, particularly in value-added processing services.

By leveraging its manufacturing capabilities, SEIL aims to meet RINL’s stringent quality standards for TMT bars, widely used in construction and infrastructure projects. This collaboration aligns with India’s infrastructure development goals, driving domestic production capacity.