RINL unveils further expansion plans

Monday, 07 Feb 2011
Rashtriya Ispat Nigam Limited on Sunday unveiled investment plans to expand its capacity to 8.4 million tonnes per annumof steel in the next five years.
Mr PK Bishnoi CMD of RINL told media persons in Bhubaneswar that RINL would add an additional production of 3 million tonnrs steel with an investment of INR 12,500 crore from the next fiscal.
He said “We will add another 1 million tonne of steel with an investment of INR 7,000 crore from the year 2013-14. We will appoint a consultant in next ten days for this purpose. It will increase the company’s capacity to 7.3 million tonnes.”
Mr Bishnoi said that the company plans to produce4.4 million tonnes of high quality steel of with an investment of INR 25,000 crore from the financial year 2014-15 because the consumption of steel will go up with the urbanization of India.
He added that “After expansion plan of RINL, we want to set up new steel plants in Orissa, Jharkhand and Rajasthan. We have signed a MoU with the Karnataka based Kudurnor Iron Company Ltd for setting up a steel plant.”