Visakhapatnam Steel Plant (VSP) has entered into a memorandum of understanding with Power Grid Corporation of India for jointly setting up electrical steel production facilities, proposed at Visakhapatnam.
Along with finalising the vertical growth plan for VSP from 7.3 to 12 million tonne per annum, action has also been taken to go for production units for value added products like silicon steel (electrical steel). Silicon Steel is currently unavailable in India and is imported.
The MoU was signed by AP Choudhary, chairman and managing director of VSP, and RN Nayak, chairman and managing director, Power Grid Corporation, a company release said.