As part of its expansion plans, Rashtriya Ispat Nigam Limited, the corporate entity of Visakhapatnam Steel Plant, has decided to diversify into various sectors to increase its presence across the country.
RINL, which has the country’s first shore-based steel plant here, recently signed an MoU with Power Grid Corporation of India Ltd for setting up a transmission tower and tower parts manufacturing unit.
The project will involve an investment of Rs.331.88 crore and the timeline fixed for completion of the project is 24 months.
The Navratna company is also laying a 450-km slurry pipeline all along the NH-43 from Nagarmar in Chattisgarh to Visakhapatnam avoiding forest areas to ease congestion on Kothavalasa-Kirandul railway line.
Sources in RINL told The Hindu that the joint venture with NMDC will cost Rs.2200 crore.
As part of the project, a pellet plant will also be set up. RINL is dependent on NMDC in sourcing iron ore from Bailadilla in Chhattisgarh through the Kothavalasa-Kirandul railway line.
Presently, RINL officials are in talks with power major NTPC for setting up thermal power plant on the premises of Visakhapatnam Steel Plant. RINL Chairman-cum-Managing Director P. Madhusudan recently said they were exploring establishing a 500 MW coal-fired power plant.
RINL is also gearing up to launch work on forged wheel plant at Rae Bareli in Uttar Pradesh at a cost of Rs.1100 crore.
Though there is not much progress with regard to launching work on Rs.400-crore forged wheel plant in association with Railways at New Jalpaiguri and a ferroalloys plant at Bobbili as a joint venture with Mangalore Ore (India) Ltd, the company is keen on setting up a 10 MGD desalination plant with an investment of Rs.450 crore to meet its water requirement in future.
