Rashtriya Ispat Nigam (RINL), and MOIL, in a JV, are planning to set up a ferro alloy unit at Visakhapatnam.
The JV will set up the plant with an investment of Rs 200 crore. Earlier in 2008, both the companies had planned to set up the plant at Vizianagaram, but as the location was found impractical, the project will be set up at Visakhapatnam, which is about 70 km from Vizianagaram city.
The respective boards of the two firms deliberated on the issue and decided to further explore the alternative strategy of installing the unit at Visakhapatnam.
Meanwhile, MOIL-RIL JV is also setting up a ferro alloy plant with an investment of Rs 400 crore, with an installed capacity of 1.06 lakh tpa in Chhattisgarh. The project has already received the approval of the Environment Ministry.
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