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

Budget basics: A glossary of terms used in Budget

Disinvestment Receipts The term refers to the money raised by the Government through disinvestment, or the sale of its equity stake in companies it owns. Fiscal Responsibility and Budget Management Act The Act is an attempt to make the Government adhere to a phased plan to reduce fiscal deficit, which denotes an excess of expenditure over revenue. Dividend Distribution Tax This is a tax levied on companies that pay out dividends to its shareholders, i.e. share a portion of earnings with them. Venture Capital Funds These are funds that invest in startups, a financially riskier proposition than investing in established companies. Securities Transaction Tax It is a tax on all transactions done over the stock exchanges involving securities such as shares, derivatives, and equity-linked mutual funds. Wholesale Price Index (WPI) It is a measure of inflation, or price change, arrived at after regularly measuring the prices of a slew of wholesale goods. Consumer Price...
Post a Comment
Read more

Indian Missile Systems and other developments 2015-16

#1. Defence Capability Enhancements   India’s biggest ship, aircraft carrier INS Vikramaditya, finally arrives source: NDTV.com INS Vikramaditya is a Kiev class aircraft carrier  which was commissioned by Russian Navy in 1987 under the name Baku. It was later renamed as Admiral Gorshkov and last sailed in 1995 in Russia, before being offered to India. India agreed to buy it in 2004 for $974 million. The cost kept shooting up as Russia delayed the delivery by over five years. INS Kolkata – Biggest warship ever to be built in India till date source: NDTV.com INS Kolkata is the lead ship of the Kolkata-class stealth guided-missile destroyers of the Indian Navy. She was constructed at Mazagon Dock Limited (MDL),  and was handed over to the navy on 10 July 2014.  A bit of an old news but mightier still! INS Kolkata, under the Project 15 Alpha, belongs to the destroyer class and is the first of three ships currently under construction Being wholly constructed...
Post a Comment
Read more

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