Hyderabad, May 2 -- The central government is planning to announce yet another financial package to the extent of Rs.8,097 crore to Rashtriya Ispat Nigam Limited (RINL), better known as Visakhapatnam Steel Plant, as part of the revival of the financially-stressed public sector undertaking, people familiar with the matter said.

According to a senior official of the state government, who preferred anonymity, the proposed Rs.8,097-crore infusion would be in the form of equity. It is expected to provide immediate operational relief to the RINL, which has been under severe financial stress due to lack of captive coal mines, forcing the company to spend huge amounts on imposing the raw material, including coal, iron ore and coke.

"The Union f...