October 3, 2013
Rashtriya Ispat Nigam Ltd (RINL) is looking to invest Rs. 60,000 crore on tripling capacity to 20 million ton by 2027. The Company is in the process of stabilising new units under the current phase of expansion that got delayed by over a year following an accident at its Vizag plant.
The new units, a wire rod mill and steel melting shop, will be commissioned soon raising RINL’s capacity from 3 MTPA to 6.3 MTPA.
Thereafter, capacity will be increased by additional 1 MT through modernisation of old units. The Company has also revived the plan to set up a 4 MT new unit for flat products, which is under consideration. The new flat mill is targeted to be commissioned by 2019-20.
RINL has also moved into manufacturing value-added end-user products and backward integration. It is setting up a factory to make 1 lakh forged wheels per annum in Raebareli, Uttar Pradesh, and a 50,000 axles manufacturing factory in New Jalpaiguri, West Bengal. Together, the projects would cost about Rs. 1,500 crore.
