Now Reading: 150 RINL plots in Visakhapatnam sold for ₹366 crore
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150 RINL plots in Visakhapatnam sold for ₹366 crore
An e-auction of 150 plots owned by Rashtriya Ispat Nigam Limited (RINL), the corporate entity running Visakhapatnam Steel Plant, fetched a total bid value of ₹366.33 crore against a reserve price of ₹312.48 crore, the Finance Ministry said on Tuesday, 13 October. The bids recorded an average premium of 17.23 per cent, with the highest price crossing ₹1.80 lakh per square yard.
The auction is overseen by the National Land Monetisation Corporation (NLMC), a 100 per cent government-owned entity. Of 256 plots offered, 470 bidders participated. A senior CITU trade union leader, Ayodhyaramu J, urged the steel ministry to use the proceeds exclusively for plant expansion.
The second and final phase, covering 216 land parcels, has been rescheduled to 30 October. Registration closes on 27 October.
Indian Opinion Analysis
Both sources factually report the same e-auction outcome: 150 plots sold for ₹366.33 crore at an average 17.23% premium over the reserve price, with a second phase now set for 30 October. Deccan Chronicle adds context from a trade union demand that proceeds fund steel plant expansion, while Telangana Today carries a Finance Ministry statement emphasising the auction's process, transparency, and investor outreach. No significant divergence in reporting or slant appears. The core difference is simply that Deccan Chronicle includes a local stakeholder's view that Telangana Today omits, a distinction of breadth rather than bias. What matters next is whether NLMC clears the remaining 216 plots by the 30 October deadline.
Coverage: 2 sources, 2 neutral
Sources (2): deccanchronicle.com (neutral report), telanganatoday.com (neutral report)
This brief was synthesised by AI from the 2 sources linked above, so one read covers every framing they carry. Methodology and corrections.
