Thaindian News

New Delhi, Mar 23 (ANI): Union Minister of State for Steel (Independent Charge) Beni Prasad Verma, who reviewed the quarterly performance of Rashtriya Ispat Nigam Limited (RINL) here, asked RINL to explore the possibility of setting up a slag cement plant at Visakhapatnam, inviting partners of international repute.

Appreciating the performance of company, he said, RINL is making profit continuously for last eight years, though the company does not have captive iron ore and coal mines.

He said that RINL’s profitability would have been further higher by over Rs. 1500 crores annually, had the company captive iron ore mines with them like other steel industry.

He further assured for extending all possible help for early allotment of both iron ore and coal mines to RINL in the national interest to meet the growing requirement of steel in the country.

“RINL has already submitted several applications for allotment of iron ore mines in the State of Jharkhand, Andhra Pradesh, Orissa, Rajasthan and Chhattisgarh,” he added.

RINL has been operating the plant continuously for last several years over 100 per cent rated capacity with good techno-economic parameters some of them meeting international standards, higher production of special steel, better customer satisfaction and faster implementation of expansion projects.

It was informed that consultant for preparation of Feasibility Report for next phase of expansion has already been engaged to add capacity further to produce 11 Million Tonnes at Visakhapatnam unit.

In this phase, the company would be looking for producing flat products, value added steel like Seamless Tube, Silicon Steel, API grade steel and Higher Dia rounds for high-end forging sector. (ANI)