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SAIL, RINL, NMDC plan joint steel plant in Chhattisgarh

SAIL, RINL, NMDC plan joint steel plant in Chhattisgarh
PTI
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First Published: Fri, Aug 17 2007. 06 28 PM IST
Updated: Fri, Aug 17 2007. 06 28 PM IST
New Delhi: Steel Authority of India Ltd (SAIL), National Mineral Development Corporation (NMDC) and Rashtriya Ispat Nigam Ltd (RINL) will jointly set up a four- million-tonne integrated steel plant in Chhattisgarh.
The three PSEs, which in April decided to form a joint venture firm for setting up the plant, signed a memorandum of understanding today.
As per the MoU, the three companies would have equal equity participation in the proposed steel plant which would set up on a suitable site selected on the basis of a pre-feasibility report to be prepared by a consultant, it added.
The release, however, did not mention the proposed investment for the project.
Steel major SAIL has nominated MECON to prepare the pre-feasibility and feasibility reports. India’s largest iron ore producer NMDC would obtain land, mining leases, statutory clearances for the greenfield project, the release said.
The MoU was signed by SAIL Director (Personnel) G Ojha, NMDC Director (Technical) P S Upadhyaya and RINL Executive Director (Corporate Affairs and Strategy) M V R Sarma, a joint release said here.
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First Published: Fri, Aug 17 2007. 06 28 PM IST
More Topics: SAIL | RINL | NMDC | steel plant | Corporate News |