July 31, 2012
Rashtriya Ispat Nigam Limited, the corporate entity of Visakhapatnam Steel Plant signed a Memorandum of Understanding with Power Grid Corporation of India for setting up electrical steel (silicon steel) production facilities.
The joint venture facility is proposed in Visakhapatnam. RINL while finalising the vertical growth plan from 7.3 to 11.5/12 million tonne per annum, parallel action has also been taken to go for production units for value-added products like silicon steel.
Silicon Steel is not currently available in India. Entire requirement is at present met through import.
The joint venture project envisages producing Cold Rolled Green Oriented (CRGO) and Cold Rolled Non-Oriented (CRNO) steel by setting up new Hot Strip Mill suitable to feed right quality of Hot Rolled Coil for producing CRGO Steel.