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The Visakhapatnam steel plant - Rashtriya Ispat Nigam Ltd is setting up a cement plant along with the Cement Corporation of India (CCI), according to a press release.
The RINL and the CCI signed a memorandum of understanding on Friday to set up 2 mtpa fly ash and blast furnace slag-based cement plant in a joint venture in two phases of one million tonne capacity each. The RINL generates a large quantity of BF slag and fly ash, prime raw material for the cement plant.
CCI Chairman and Managing Director Manoj Misra and RINL Director (Projects) P.C. Mohapatra signed the MoU in the presence of P Madhusudan, the CMD of the RINL.
The joint venture project cost is approximately ₹150 crore. The RINL is offering around 35 acres of land for the proposed plant on its premises. The project is proposed to be completed in 15 months from the date of placement of order.
P.Madhusudan, CMD, expressed confidence that the CCI would set up the plant with state-of-the-art technology. The RINL would extend necessary support.
Manoj Misra said that CCI is one of the lowest-cost producers of cement in the country and joining hands with RINL will be a win-win situation for both PSUs.
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