RINL in pact with Power Grid Corp for electrical steel facility
31 Jul 2012
Rashtriya Ispat Nigam Ltd (Visakhapatnam Steel Plant) plans to set up an electrical steel production facility, for which, it signed a memorandum of understanding (MoU) with Power Grid Corporation of India.
A P Choudhary, chairman and managing director of RINL and N Nayak, chairman and managing director of Power Grid Corporation, signed the MoU yesterday.
RINL is taking steps for setting up production units for value-added products like silicon steel (electrical steel), which the country currently imports to meet its requirements.
The new project envisages production of cold-rolled non-oriented (CRNO) steel and cold-rolled grain-oriented (CRGO) with the setting up of a hot strip mill suitable for feeding the right quality of hot rolled coil for producing CRGO steel.
The company recently floated a global expression of interest for potential technology suppliers and had detailed technical deliberations with them along with PowerGrid officials and others.
Earlier, in December 2011, RINL and PowerGrid signed an MoU for setting up a joint venture for the manufacture of transmission line towers and tower components, including high-end R&D products. The project is progressing well, according to the release.