Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant, has signed a memorandum of understanding (MOU) with Kudremukh Iron Ore Company Limited (KIOCL) for setting up a pellet plant joint venture project in Vizag, located on the east side of India near the Bay of Bengal. The capacity of the proposed plant is 1.2 million mt annually with a provision to expand further if business opportunities require expansion.
RINL’s Chairman and Managing Director P. Madhusudan and KIOCL Chairman and Managing Director MV Subba Rao signed the documents of the Memorandum of Understanding (MoU) in the presence of the Union Minister of Steel Chamber Chaudhary Birender Singh in Mangaluru on January 6.