Rashtriya Ispat Nigam Limited focused on modernisation for increasing production

VISAKHAPATNAM: Chairman and Managing Director of Rashtriya Ispat Nigam Limited (RINL) P Madhusudan today said the company was currently focused on modernisation of its assets to enhance the production by a million tonnes.

Speaking at a press conference here, he said the company would be investing Rs 4,000 crore for modernisation over 2014-15 and 2015-16.

The revamping of blast furnaces and other changes would help increase the production by a million tonne, he said.

The company was eyeing the African market to increase its exports, he said.

As a part of its business diversification strategy and to increase the geographical presence in the country, RINL is setting up a Forged Wheel Plant at Rae Bareli, Axle Plant in New Jalpaiguri, Transmission Line Tower manufacturing unit in Visakhapatnam through a Joint Venture with Power Grid Corporation and Slurry Pipeline and Pelletisation Plant at Visakhapatnam through a Joint Venture with NMDC.