Friday, May 7, 2010

Expansion of Visakhapatnam Steel Plant
  
The Minister of State in the Ministry of Steel, Shri A. Sai Prathap has said that the Central Government had approved an expansion plan of Rashtriya Ispat Nigam Ltd. (RINL), Visakhapatnam Steel Plant (VSP) so as to augment its liquid steel production capacity from 3.0 million tonne per annum to 6.3 million tonne per annum.

In a written reply in the Lok Sabha today, he said, the expansion project is envisaged to be fully financed through the company’s internal accruals and loans raised from financial institutions/banks. The expansion plan was approved after consideration of a Techno Economic Feasibility Report prepared after taking into account present demand, future requirements and installed capacities / ongoing expansion schemes inside the country, strengths and risks involved and overall availability / demand in the coming years.

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