Rashtriya Ispat Nigam Ltd (Visakhapatnam Steel Plant) CMD A.P Choudhury on Wednesday welcomed the Railway Budget 2013-14 and termed it “pro industry”.
According to a press release, he said the investment announced by the Railways of over Rs 60,000 crore, particularly in the areas of port and mines connectivity, new manufacturing/maintenance facilities, introduction of several new trains, increase in manufacturing of coaches and wagons would greatly improve steel consumption in the country, particularly that of RINL.
The effort of the steel industry to reach rural areas as well as every nook and corner will get support with the introduction of several new trains, new rail connection of north-east states and Jammu Kashmir area, he added.
The setting up of the country’s biggest forged wheel factory by RINL at Rae Bareli, UP is a right step towards becoming self-reliant in meeting the growing needs of the Indian Railways and ensuring safety, he said. However, the increase in freight charges would have adverse impact on the steel industry and would need a re-look by the Railways, he added.