RINL aims to achieve 12 million tonnes capacity by 2020-end

Tags: RINL, Industry
Rashtriya Ispat Nigam Limited, the corporate entity of Vizag Steel, plans to expand capacity to 12 million tonnes per annum by 2020-end with an investment outlay of Rs 22,000 crore, a senior company official has said.

The PSU has also appointed MN Dastur, an independent engineering consultancy, to submit a report on the expansion programme, the official added.

"We have plans to further enhance the capacity to 12 million tonnes of liquid steel costing Rs 22,000 crore. RINL would be manufacturing flat products for the first time (after expanding to 12 million tonnes per annum capacity). These products include HR coils of various grades, CR sheets, galvanised coils etc," the official told PTI.

The company has recently expanded its capacity to 6.3 million tonnes from the earlier 3 million tonnes with an investment of over Rs 12,000 crore.

"RINL is investing Rs 4,000 crore for modernisation and upgrading the health of existing units such as blast furnaces, convertor shops, sinter plants etc for enhancing the capacity by one million tonne per annum to reach 7.3 million tonnes by 2015-16," the official added.

The PSU will be undertaking projects worth around Rs 5,000 crore in the next two to three years, which includes a forged wheel plant at Rae Bareli in Uttar Pradesh and an axle plant at Jalpaiguri in West Bengal.

The plant shall supply 85,000 wheels and there will also be an assured offtake for 26 years (from the project) by Railways.

Former Railway Minister Mallikarjun Kharge had earlier said that the production from this factory will help in meeting the demand and result in import substitution.

The unit would manufacture and supply rail axles to meet the growing requirement of Indian Railways. The plant will have the facility of forging and heat treatment of about 50,000 axles per year.

RINL chairman P Madhusudan had recently called on Andhra Pradesh Chief Minister N Chandrababu Naidu and apprised him of the capacity expansion programmes.

RINL is aiming to achieve 4.4 million tonnes of saleable steel in the current financial year with a gross sale of over Rs 19,000 crore, the official added.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • FDI in insurance must be allowed with a rider to increase penetration

    The Union cabinet has cleared the proposal to raise foreign direct investment (FDI) in the insurance sector through the FIPB route from the current 26

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

Which is safer? Flying or driving?

The recent tragedies involving the Taiwan’s TransAsia Airways flight, and ...

Parvez Imam

Revisiting history can do us all good

We often think that we understand history. We read it ...

Bubbles Sabharwal

Your happiness doesn’t depend on your needs

They are two different words (and even worlds) altogether: having ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture