Connect with us

Business

Vizag Steel Plant to invest Rs.38,500 crore for expansion

Published

9 years ago

on

steelVisakhapatnam:The Visakhapatnam Steel Plant on Monday signed a MoU with Andhra Pradesh for expansion, with an investment of Rs.38,500 crore.

Rashtriya Ispat Nigam Ltd (RINL), the corporate entity of Visakhapatnam Steel Plant, signed the pact during the CII Partnership Summit here.

P.C. Mohapatra, Director (Projects), RINL, and Kartikeya Misra, Director of Industries in the Andhra Pradesh government, exchanged the Memorandum of Undertaking copies.

The MoU envisages investment of around Rs.38,500 crore to expand the plant capacity in two phases and for taking up other projects. This is expected to create employment opportunity for around 3,000 people.

The steel plant’s capacity will be expanded from the existing 6.3 tonnes per annum (mtpa) to 7.3 mtpa through modernization with an investment of Rs.3,600 crore.

The capacity will be further expanded to 11.5-12 mtpa with an estimated investment of Rs.25,000 crore.

Officials said the first phase of expansion was likely to be achieved by 2018.

Another Rs.3,400 crore will be invested for construction of Coke Oven Battery-5 and other projects.

A Slurry Pipeline and Pellet Plant will be established at a cost of Rs.6,100 crore under the joint venture with National Mineral Development Corp (NMDC) and others.

Under a joint venture with Power Grid, transmission line tower project will be taken up with an investment of Rs.330 crore.

As per the MoU, the Andhra government will support the company’s participation in significant projects in the state, wherever feasible. Such participation may include providing advisory services and setting up manufacturing facilities, according to a statement from RINL.

In turn, RINL can support the development of infrastructure in Andhra Pradesh, considering the government’s focus on promoting manufacturing and industrialization in the state and facilitating conducive investment environment.

P. Madhusudna, CMD, RINL, met Andhra Pradesh Chief Minister N. Chandrababu Naidu, who assured all necessary support to RINL in its journey towards 12 mtpa Plant.

 

 

Related Topics:
Continue Reading

Business

Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

on

May 5, 2022

By

If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

Continue Reading

Trending