Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant, has signed an MoU with Kudremukh Iron Ore Company Limited (KIOCL) for setting up a 1.2 million tonne per annum pellet plant project at Vizag.
Both the PSUs will form a joint venture for the plant.
RINL CMD P Madhusudan and KIOCL CMD M V Subba Rao exchanged the documents of the Memorandum of Understanding (MoU) in the presence of Union Minister of Steel Chaudhary Birender Singh in Mangaluru yesterday, RINL said in statement today.
"The capacity of the proposed plant will be initially 1.2 million tons per annum with a provision to expand further as per requirement," it said.
Pellets will be produced by utilising iron ore fines which will be supplied from either mines situated at Bailadila in Chhattisgarh or Bellary in Karnataka. The RINL will use these pellets as part of raw material requirement for its blast furnaces.
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