RINL moots proposal of merger with NMDC

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Kolkata, May 30 (UNI) Rashtriya Ispat Nigam Limited(RINL) has mooted the proposal of merger with National Mineral Development Corporation (NMDC) to enhance steel production in the country, RINL CMD P K Bishnoi said today.

Addressing mediapersons here, Mr Bishnoi said though RINL enjoyed vast land resources, it did not have iron ores like that of NMDC, and the merger would accelerate the overall development of the steel industry.

Mr Bishnoi said the proposal would be forwarded to the Steel Ministry after receiving the ''green signals'' from NMDC.

''With the merger of RINL and NMDC, it would be possible to increase the annual production of both steel and iron ore to 20-25 million tonne and 40-50 million tonne respectively within ten years,'' he observed.

Mr Bishnoi informed that RINL has fixed the target of its steel production at 7.3 million tonne by 2011.

''RINL is committed to bettering the steel production in the country and the merger move initiated by it is a step in that direction,'' he maintained.

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