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Our Bureau

Visakhapatnam, Feb. 28 Rashtriya Ispat Nigam Ltd signed a memorandum of understanding with the Rail India Technical and Economic Services Ltd (RITES) here on Thursday for design and implementation of the railway network required as a part of its ongoing expansion project, according to a press release.

The expansion will take the steel plant’s capacity to 6.3 million tonnes. At present, the plant has a capacity of 3.2 million tonnes of hot metal.

The MoU will be valid for a period of five years. The job involves laying of railway lines within the plant for the incoming raw materials and outgoing finished products.

An additional traffic of 8.5 million tonnes may be generated due to the expansion project.

The RITES will also be involved in the design of railway lines at the captive mines of the Visakhapatnam Steel Plant at Jaggayyapeta and Madharam.

The agreement was signed by Mr A.K. Banerjee, the Executive Director (Projects), on behalf of VSP and Mr Jeevan Gupta, the Executive Director, on behalf of RITES.

More Stories on : Alliances & Joint Ventures | Steel | Railways

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