Indian Railways will provide land for the new $235 million forged wheel plant of Indian state-owned steelmaker Rashtriya Ispat Nigam Limited (RINL) slated for construction in the northern Indian province of Uttar Pradesh, an official at RINL said on Wednesday, January 25.
The company official said that the government owned and operated Indian Railways will offer RINL 50 acres of land for the forged wheel plant as the latter will meet demand from Indian Railways which currently meets its entire requirements through imports.
The RINL forged wheel plant will have an output capacity of 100,000 forged wheels per year.
The official said that Indian Railways has assured RINL that it will purchase 100 percent of the plant’s output, while the procurement price has also been agreed between RINL and Indian Railways.