RINL ED (Projects) Wilson David and KIOCL ED (Projects) V Bobrag Jayaharn signing an MoU in Mangalore on Saturday
Hyderabad: Rashtriya Ispat Nigam Ltd (RINL), the corporate entity of Visakhapatnam Steel Plant (VSP) will set up a pellet plant at Visakhapatnam in Andhra Pradesh. In this regard, RINL has entered into an agreement with Kudremukh Iron Ore Company Ltd (KIOCL). Under the MoU, RINL and Kurdremukh Iron Ore Co will set up a 1.2 million tonne per annum pellet plant project at Vizag, according to a release here on Sunday. Both the public-sector majors will float a joint venture (JV) for setting up the plant.
RINL CMD P Madhusudan and KIOCL CMD MV Subba Rao exchanged the documents of the Memorandum of Understanding (MoU) in the presence of Union Minister of Steel Chaudhary Birender Singh in Mangaluru on Saturday, said the RINL statement.
CMD in the statement said that initially the capacity of the pellet plant would be 1.2 million tonne annually. “However, we have a provision to expand further as per requirement and demand.”