Steel Exchange India Ltd (SEIL) has won a big contract worth ₹210 crore from the government-owned company Rashtriya Ispat Nigam Limited (RINL). Under this deal, SEIL will turn 1.2 lakh tonnes of steel billets into TMT bars every year. These bars will be sold under the Vizag Steel brand.

SEIL will use its current factory (rolling mill) for this work, which means it can make better use of its machines and increase its income. The agreement will last for two years, with the option to extend it for one more year if both companies agree.

This partnership helps SEIL become a stronger player in the Indian steel market and supports RINL in meeting its steel production targets.