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RINL signs MoU with Government

NEW DELHI : Rashtriya Ispat Nigam Ltd. (RINL) on Tuesday signed a Memorandum of Understanding (MoU) with the Union Government envisaging a turnover of Rs. 9,136 crore during 2007-08 against the likely turnover of Rs. 8,749 crore this year, a rise of over 4.4 per cent. It targets to produce 4.1 million tonnes of hot metal and 3.21 million tonnes of salable steel during 2007-08 at 121 per cent capacity utilisation. The Visakhapatnam-based integrated steel plant is implementing an expansion plan to increase its liquid steel capacity to 6.3 million tonnes per annum at an estimated cost of Rs. 8,692 crore, says a release.

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