Rashtriya Ispat Nigam’ (RINL) may rope in either MOIL or NMDC for its Rs 2,000 crore joint venture project as BHEL is bot keen on the project.
Earlier, BHEL and RINL planned to set up a seamless tube mill (STML) with an annual production capacity of four lakh tonne per annum. BHEL requested NMDC to join in the project, to be set up inside its Vizag plant.
It is learnt that union steel ministry my hold discussion with RINL, NMDC and MOIL for deciding the modalities to take the project forward.
The proposed meeting would discuss the shareholding pattern of the venture. Since the mill would be located inside RINL’s Vizag facility, the steel producer may seek a majority stake in the venture, sources said.
Seamless tubes find application in energy, oil & gas and water sectors, among others. After meeting local requirements, products from the project would be exported to destinations such as the Middle East.
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