Public sector Rashtriya Ispat Nigam Limited (RINL), which runs the Vishakhapatnam steel factory, on Friday signed a memorandum of understanding with Indian Railways in Delhi for setting up a forged wheel factory at Rai Bareli in Uttar Pradesh.
The company will be investing Rs 1,000 crore to set up the project, which will have a capacity to produce 100,000 wheels a year for supplying to the Railways. The factory is scheduled to be completed in 36 months and will be the biggest such plant in India, according to a press release.
The raw material for the factory will be supplied by RINL’s Vizag plant in the form of continuous cast rounds, it said.
NMDC-Railways in pact
Public sector iron ore miner NMDC Limited today signed an MoU with Indian Railways for doubling the 150-km line between Kottavalasa-Kirunndul of East Coast Railway. The project will be implemented by railways at a cost of Rs 826 crore and the same will be funded by NMDC with provisions for suitable returns through freight rebate, a company release stated.
For operational requirements of the new line, the railways will additionally make necessary investments in wagons, locomotives and maintenance facilities besides deploying the staff. The new line is likely to create an additional traffic of up to 12 million tonne a year in a phased manner.
