RiNL signs MoU with Andhra Pradesh government for investment of Rs 38,500 crore

KOLKATA: RINL, the corporate entity of Visakhapatnam Steel Plant inked an MoU with Andhra Pradesh government. The MoU envisages investment of around Rs. 38,500 crore to take up various projects at Visakhapatnam. The Mou was signed during the '22nd CII Partnership Summit & 1st Sunrise AP Investment Meet'currently under way in Visakhapatnam.

P C Mohapatra, Director (Projects), RINL and Kartikeya Misra, Director of Industries, Andhra Pradesh exchanged the MOU copies for establishing the a number of projects. This includes expansion of RINL to 7.3 million tonne per annum (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 crore.

Additionally, the overall investment figure of Rs 38,500 crore also includes further expansion of RINL to 11.5 to 12 mtpa with an estimated investment of Rs 25,000 crore. RINL will also spend Rs 6100 crore on a slurry pipeline & pellet plant in joint venture with NMDC & others. Another Rs 330 crore will be invested in a transmission project in jv with Power Grid Corporation.