Rashtriya Ispat Nigam (RINL), is planning to invest Rs 60,000 crore on tripling its capacity to 20 million tonne by 2027.

For this purpose, the company is in the process of stabilising new units under the current phase of expansion that was delayed by over a year at its Vizag plant. The new units, a wire rod mill and steel melting shop, will be commissioned this month raising RINL's capacity to 6.3 million tpa from three million tpa.

Thereafter, the company will increase its capacity by one million tonne through modernisation of its old units.

This apart, RINL is setting up a factory to make one lakh forged wheels per annum in Raebareli in Uttar Pradesh and a 50,000 axles manufacturing factory in New Jalpaiguri, West Bengal. Together, the projects will cost about Rs 1,500 crore.

Meanwhile, the company also plans to set up an iron ore beneficiation and a pellet plant of five million tpa each in Rajasthan.

The company is also looking at securing an iron ore mine in Uttar Pradesh.