RINL plans Rs15,000-crore steel plant JV with Karnataka government

23 Apr 2011

1

State-owned Rashtriya Ispat Nigam Ltd (RINL) is planning to set up a three million tonne capacity steel plant as a joint venture with the Karnataka government.

The proposed joint venture would involve investment to the tune of Rs15,000 crore, the company CMD Pradip Kumar Bishnoi said today.

Bishnoy was interacting with reporters in Bangalore after launching the company's rural dealership scheme in Karnataka.

RINL, which runs the Vishakapatnam Steel Plant, will utilise the existing facilities of Kudremukh Iron Ore Company Ltd to set up the plant, he said.

Bishnoi, however, clarified that RINL was not looking at any mining activity in the Kudremukh area, which has been banned under a court order.

He said the company would seek mining rights at alternative sites to be granted by the state in the event of the project taking off.

Business History Videos

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more