Bhubaneswar, Feb 6 (PTI) Navaratna PSU Rashtriya IspatNigam Ltd (RINL) is aiming at raising its capacity to 11 mtpaby 2015 from 3 mtpa now and initiating steps to set up plantsin four states including Orissa and has pumped in about Rs50000 crore for expansion and modernisation.
"The company has embarked upon expansion andmodernisation projects to increase its capacity to 7.3 mtpa ata cost of Rs 20,000 crore by 2013," RINL chairman-cum-managingdirector P K Bishnoi told reporters here.
Another Rs 25,000 crore would be invested for furtherexpansion in order to add 4 mtpa to raise the total capacityup to over 11 mtpa by 2015 using completely new technology, hesaid adding nearly Rs 10,000 crore had already been spent onnew projects.
Known for adoption of new state-of-the-art technology,RINL Visakhapatnam Steel Plant is the first plant in thecountry to have 100 per cent continuous casting technology andbiggest blast furnaces of 3200 cu.m, Bishnoi said.
The RINL CMD, here to launch rural dealership scheme(RDS) to make available steel in interior areas, said thecompany adopted fastest wire rod mill, RH degasser and electromagnetic stirrer in steel melt shop for production of highquality cleaner steel.
Besides taking its Vizag plant to new heights, RINL iskeen to set up new units in Orissa, Jharkhand, Rajasthan andKarnataka, he said adding in Karnataka it would be a jointventure with Kudremukh Iron Ore Company Ltd for which an MoUhas been signed.
Talks are on with concerned states for the proposedplants, he said adding the sites would be decided depending onthe availability of iron ore.
Raw material would not be a problem in Orissa as thecompany has acquired 51 per cent stake in Eastern InvestmentLimited which has Orissa Mineral Development Corporation(OMDC) and Bisra Stone Lime Company (BSLC) as subsidiaries,Bishnoi said.
On RINL''s rural dealership scheme, he said it is anendeavour to promote inclusive growth by making the productsavailable to actual users in villages.
SCs, STs, OBCs, women and minorities would be encouragedto register as rural dealers, he added.