Vizag Steel, Cement Corporation ink JV deal to set up Rs 150-cr cement unit

Project is expected to completed within 15 months

The Rashtriya Ispat Nigam Limited (RINL)- the corporate entity of Visakhapatnam Steel Plant- and the Cement Corporation of India (CCI) signed a memorandum of understanding (MoU) on Friday to set up a 2 million tonnes per annum (mtpa) fly ash and blast furnace slag-based cement plant in a joint venture.

The project would cost around Rs 150 crore. RINL will be offering 35 acres of land within the premises of Vizag steel for the proposed plant.

The location offers logistical cost benefit due to the availability of slag and fly ash, besides providing the added benefit of a nearby port that will provide avenues for export of cement and import of clinker if required, the company authorities said. The cement plant is expected to be completed within 15 months.

RINL’s chairman and managing director, P Madhusudan, said the cement plant would be based on state-of-the-art technology that contributes to a pollution free environment.