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Our Bureau

New Delhi , Nov. 17

The Rashtriya Ispat Nigam Ltd (RINL) has set a target of producing 16 million tonnes (mt) of liquid steel by 2018, at an investment of over Rs 25,000 crore.

"The RINL board at its meeting last week has approved a roadmap for increasing its capacity to 16 mt by 2018. The total expenditure for expansion from the current 3.5 mt to 16 mt would be over Rs 25,000 crore," the Steel Minister, Mr Ram Vilas Paswan, said here. He said the Government had already approved the first stage of expansion proposal of RINL from the present annual capacity of 3.5 mt of liquid steel to 6.8 mt by 2009 at a cost of Rs 8,692 crore.

However, this target was revised to 8.5 mt by 2010-11 to meet the increasing demand for steel in the market.

"A detailed plan is being prepared after exploring various alternative frontline technologies that would be appropriate in the context of the need to ensure raw material security, improve techno-economics and other aspects," the Minister said. He added that given the rapid growth in the demand for steel globally coupled with the need to expand and consolidate to maintain its competitive position vis-à-vis the private sector, the RINL board decided on expanding its production.

More Stories on : Outlook | Steel

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