Rashtriya Ispat Nigam (RINL) plans to set up 6 mtpa cement plant through joint venture with a cost of Rs 3,000 cr.

Highlights:

  • The state-run steelmaker joint venture Rashtriya Ispat Nigam Ltd. (RINL) has drawn up a plan to set up a greenfield cement manufacturing plant with a capacity of six milion tonne a year (mtpa) in Vizag.
  • The unit will be built through a joint venture route at an estimated investment of Rs 3,000 crore.
  • RINL is in the process of floating a global tender inviting expression of interests (EoIs) from companies having expertise and experience.
  • The plan to venture into the cement business is aimed at proper utilisation of by-products such as fly ash and slag from its 2.9 mtpa steel plant.
  • Almost all the 1.2 mtpa slag produced in the plant is now sold to the local cement manufactures; while fly ash is mostly used for earth-filling.
  • The company is also enhancing the capacity of the plant to 6.3 mtpa, which is likely to be completed next year.
  • RINL has been toying with the idea of setting up a cement plant for quite sometime now.
  • The company had once floated a tender for the same, but it did not receive positive response.
  • The setting up of the plant would also help the company to enhance its top-line and bottom-line and proper utilisation of the by-products.