RINL to get "mini rathna" status

Visakhaptnam, May 20 (UNI) Union Steel Minister Ramvilas Paswan today announced that the Rashitrya Ispat Nigam Limited (RINL) would get a 'mini rathna' status soon.

Laying the foundation stone for Rs 8692 crore expansion project of the RINL, the Minister said there would be nine to 11 per cent expected growth in the steel sector in the wake of the UPA government strengthening and reviving the sick PSUs by pumping investments from the profit making PSUs.

He said that a new Research and Development Centre on Steel would be set up in Hyderabad to make nation's steel making capacity to 110 million tonne by 2020.

He also called upon the private sector to play an important role along with the PSUs in the steel market.

He said the RINL would expand its capacity to 12 million tonne after the current phase of expansion at 6.3 million tonne was completed.

An ex-gratia of Rs 5000 was announced by the minister to the employees of RINL for their outstanding performance.

UNI DB AJ 1458