RINL sign MoU with Andhra Government for Rs.38500 Crore Investment

RINL, the corporate entity of Visakhapatnam Steel Plant inked an MoU with the Government of Andhra Pradesh today during the “22nd CII Partnership Summit & 1st Sunrise AP Investment Meet” currently being held in Visakhapatnam. The Govt. of Andhra Pradesh and RINL agreed on the importance of infrastructure and industrial development in Andhra Pradesh and agreed for mutual cooperation for facilitating investments in Andhra Pradesh. The MoU envisages facilitating investment of around Rs. 38,500 crores by RINL to take up various projects at Visakhapatnam with an employment opportunity to around 3000 people. Shri PC Mohapatra, Director (Projects), RINL and Shri Kartikeya Misra, IAS, Director of Industries, Government of Andhra Pradesh exchanged the MoU copies for establishing the following projects.

• Expansion of RINL to 7.3 mtpa & modernization with an investment of Rs 3,600 crores.
• Construction of Coke Oven Battery-5 and other projects at an investment of Rs 3,400 crores.
• Further expansion of RINL to 11.5 - 12 mtpa with an estimated investment of Rs 25,000 crores.
• Establishing a Slurry Pipeline & Pellet Plant Project (Joint Venture with NMDC & Others) at an investment of Rs. 6,100 crores.
• Transmission Line Tower Project (JV with POWERGRID) with an investment of Rs. 330 crores.