A joint venture company set up by Rashritya Ispat Nigam (RINL) and MOIL in July, 2007 is revisiting the
Rs 200-crore ferro alloy plant project and plans to set it up at an alternative location in Vizag, agency reports indicate.
RINL-MOIL Ferro Alloys Pvt Ltd, in which both firms have equal stake, was formed to set up the plant at Vizianagaram in Andhra Pradesh in 2007. However, the project was found to be unviable at this site.
After a long gap, the joint venture firm plans to set up the proposed plant at Vizag, about 70 km from Vizianagaram city. The joint venture firm plans to set up the plant with a capacity of 57,000 tonne per annum.
The board of both the companies discussed the project and decided to study the alternative strategy of installing the unit at Vizag (Visakhapatnam), agency reports indicate.
Ferro alloys are used in steel making for de-oxidising purposes.
Meanwhile, the union environment ministry cleared the proposed ferro alloy plant to be set up by MOIL in joint venture with SAIL. The project, with 1.06 lakh tonne per annum capacity would be set up in Chhattisgarh with an outlay of Rs 400 crore.
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