Skip to main content

Rashtriya Ispat Nigam Limited inks MoU with Andhra Government Facilitating Investments

Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant inked an MoU with the Government of Andhra Pradesh today during the “22nd CII Partnership Summit & 1st Sunrise AP Investment Meet”.

The three-day Partnership Summit, which began on Sunday, is being jointly organised by the State Government and the Confederation of Indian Industry (CII).

The MoU envisages facilitating investment of around Rs. 38,500 crores by RINL to take up various projects at Visakhapatnam with an employment opportunity to around 3000 people.

RINL can support the development of infrastructure in Andhra Pradesh, considering Government’s focus on promoting manufacturing and industrialization in the state and facilitating conducive investment environment.

Projects :

• Expansion of RINL to 7.3 mtpa & modernization with an investment of Rs 3,600 crores.

• Construction of Coke Oven Battery-5 and other projects at an investment of Rs 3,400 crores.

• Further expansion of RINL to 11.5 – 12 mtpa with an estimated investment of Rs 25,000 crores.

• Establishing a Slurry Pipeline & Pellet Plant Project (Joint Venture with NMDC & Others) at an investment of Rs. 6,100 crores.

• Transmission Line Tower Project (JV with POWERGRID) with an investment of Rs. 330 crores.

About RNIL:

Rashtriya Ispat Nigam Ltd, (abbreviated as RINL), also known as Vizag Steel, is an Indian government-owned steel producer. Based in Visakhapatnam,

RINL has been awarded the Navaratna status, with accompanying autonomy of operations, due to its strong financial performance.

It is amongst the most advanced Steel plants in India and one of largest integrated steel plants in the world.

RINL is wholly owned by the Government of India.

The Rashtriya Ispat Nigam Limited (RINL) ,registered a growth of eight per cent by achieving a turnover of Rs.8,636 crore during April-December 2015.

RINL bagged the ‘Star Performer Award’ for 2013-14 for the second time in succession for contribution to exports.

Labels:

Comments

Post a Comment

Popular posts from this blog

Inland Waterways in India

Here are some key points you need to know: The bill seeks to add 106 inland waterways to the existing six National Waterways on the recommendations of the Parliamentary Standing Committee on Transport, Tourism and Culture and comments of several state governments The bill will also look after the renovation and maintenance of the existing waterways Out of the 106 new waterways, 18 have already been identified. These include five waterways each from Karnataka and Meghalaya, three each from Maharashtra and Kerala, one each from Tamil Nadu and Rajasthan The bill also aims to help the Inland Waterways Authority of India (IWAI) to develop the feasible stretches for Shipping and Navigation. Let us look at the six existing National Waterways in India: National Waterway 1 (NW1) The National Waterway No. 1 uses a 1,620-kilometre stretch of the Ganges River. It was declared a national waterway in the year 1986 and runs from Allahabad in Uttar Pradesh to Haldia in West Bengal....
Post a Comment
Read more

INS Kadmatt commissioned at Naval Dockyard in Visakhapatnam

INS Kadmatt commissioned at Naval Dockyard in Visakhapatnam  INS Kadmatt, the second ship of Project 28 class ,anti-submarine warfare (ASW) corvettes, was commissioned at the Naval Dockyard in Visakhapatnam. INS  Kadmatt  is the second of four anti-submarine warfare corvettes built for the Indian Navy by the Garden Reach Shipbuilders and Engineers of Kolkata under Project 28. INS Kadmatt has been named after the Kadmat Island of India’s Lakshadweep Islands. The primary role of the INS  Kadmatt  is in anti submarine warfare – to protect ships in convoys and ports from enemy submarine attacks. What is anti submarine warfare? Anti-submarine warfare    is a branch of underwater warfare that uses surface warships, aircraft, or other submarines to find, track and deter, damage or destroy enemy submarines. Successful anti-submarine warfare depends on a mix of sensor and weapon technology, training, experience and luck. Soph...
Post a Comment
Read more

India's Macroeconomy Post-Keynesian Insights.

Click Here for PDF version Market, Regulations and Finance: Global Meltdown and the Indian Economy edited by Ratan Khasnabis and Indrani Chakraborty; New Delhi and New York: Springer India, India Studies in Business and Economics, 2014; pp 266, price not indicated. Errol D’Souza ( errol@iimahd.ernet.in ) teaches Economics at IIM Ahmedabad. This is a book of articles on finance and the macroeconomy of India after the global financial crisis, written by those who have a perspective that the editors broadly describe as having a commonality with post-Keynesians. To me the essence of this approach is to stress that in a monetary production economy, the level of economic activity is set by the level of effective demand and that this is usually not consistent with full employment. The capitalist system based on free market principles is, in this view, inherently cyclical and unstable. Indeed, the first article in the book on an Indian perspective on monetary policy...
Post a Comment
Read more