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Rashtriya Ispat Nigam Ltd (Visakhapatnam Steel Plant) signed a memorandum of understanding with the Indian Railways in New Delhi on Monday for setting up an axle plant named “Uttarbanga RINL RAIL Karkahana Ltd” at New Jalpaiguri, West Bengal, at an estimated cost of Rs 278 crore for manufacturing and supplying axels for BOX N wagons and others to meet the growing requirement of the Indian Railways.
According to a press release issued by the RINL here, the project will be implemented by forming a 100 per cent subsidiary company of RINL or a joint venture. MECON has been appointed the consultant for the project.
The Railways has selected the RINL to set up the axle plant considering its technological strengths in special grades of steel for decades. RINL is known for having modern technology and is now also adopting latest technology such as RH process, LHF, and EMS for production of high quality cleaner steel in its ongoing expansion project.
Mr Sanjeev Handa, Member (Mechanical), of the Railway Board, lauded the keen interest evinced by RINL, particularly by Mr P.K. Bishnoi, Chairman and MD, in the project.
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