RINL to build JV steel plant with Karnataka’s government
Reportedly, Rashtriya Ispat Nigam Ltd (RINL) and the Karnataka government were planning to invest INR15,000 crore to set up a joint venture of steel plant in the state.
The new JV steel plant is expected to have 3 million tons of annual production capacity for cold rolled products and seamless pipe and tubes used in oil industry.
It’s said that the RINL was planning to utilize some of the finest iron ores produced in Karnataka state as feedstock for the new plant; however, the plan may still need clearance from the Karnataka’s government.
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