State-owned Rashtriya Ispat Nigam ( RINL) would invest Rs 300 crore for setting up an axle plant at Jalpaiguri in West Bengal.
"We will invest Rs 300 crore for the axle plant and we have already got land from the railways," the company's Chairman and Managing Director A P Chaudhuri told reporters on the sidelines of Asian Mining Congress here today.
Mecon has been appointed as the consultant for the project which is expected to be on stream by 2014, he added.
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