RINL to invest Rs.38,500 cr on expansion of projects in Vizag
The Dollar Business Bureau Rashtiya Ispat Nigam Ltd (RINL), the corporate entity of Visakhapatnam Steel Plant, has signed an agreement with the Andhra Pradesh government to take up various projects with an investment of around Rs.38,500 crore. The agreement, signed during the ‘Sunrise AP Investment Meet’ being held in Visakhapatnam, aims at creating employment for around 3,000 people. The investments include expansion of RINL to 7.3 million tonnes per annum (MPTA) and modernization with an investment of Rs.3, 600 crore and further expansion to 11.5 - 12 MTPA at an estimated cost of Rs.25, 000 crore. The MoU also ensures construction of Coke Oven Battery-5 and other projects at an investment of Rs.3,400 crore, besides establishment of a slurry pipeline ...
