RINL to invest Rs1.1 billion in Vizag Steel

RINL to invest Rs1.1 billion in Vizag Steel

Indian steel producer Rashtriya Ispat Nigam Ltd (RINL) is reportedly planning to invest Rupees 1.1 billion ($24 million) to establish a coke oven unit at Vizag Steel Plant (VSP). The company officials stated that they plan to increase annual production capacity of VSP to 7-8 million tons through establishing the coke oven. Moreover RINL is in talks with Australian mining companies to establish joint venture coal companies in order to supply coal to VSP. It is stated that certain Canadian companies showed interest in establishing a joint venture company with RINL however the company preferred Australian companies, taking the transportation costs into consideration.