RINL to complete expansion, start production ahead of schedule

Rashtriya Ispat Nigam Ltd will complete its Rs 12,000-crore expansion project ahead of schedule and start commercial production from the augmented capacity by October 2010.

The state-run steel company earlier had said the 6.3 million tonnes per annum (MTPA) expansion project would be completed only by 2011-12.

"Expansion is going on well. We will be starting our commissioning-cum-stabilisation next year from end-March to end-September. Commercial production will start from October 2010," RINL Chairman and Managing Director P K Bishnoi told PTI.

RINL at present produces about 3.2 MTPA long- steel items, mainly consumed by the construction firms.

The mini-ratna unit is working to modernise its plants to make them energy-efficient.

RINL has also furnished data to the government seeking the navaratna status.

"This will enhance autonomy and delegation of financial powers, including that of investment and JV abroad for its raw material security," the company said.

Rashtriya Ispat Nigam Ltd is said to be in scarcity of the raw materials as it does not have captive mining blocks. However, Bishnoi said, "Raw Material security is there. We have iron ore contracts with NMDC and a long-term coking coal contract with CIL."