State-owned steel maker RINL on July 24 said projects worth about Rs 2,985 crore were inaugurated at its plant in Visakhapatnam. The projects inaugurated by RINL CMD P K Rath include a coke oven battery (COB), commissioning of an LPG plant, pumping operations, a balancing reservoir and a retail outlet, Rashtriya Ispat Nigam Limited (RINL) said in a statement.
"The COB-5 was constructed...at an estimated cost of Rs 2,500 crore with a production capacity of 8.40 lakh tonne of blast furnace grade coke per year, one of the key raw materials for hot metal production," it said.
Kaniti Balancing Reservoir-2 has been built to provide additional water storage facility to cater to the enhanced levels of production.
It has been built by construction major L&T, RINL said, adding the capacity of the reservoir is about 12.32 million cubic metres and built at the cost of 465.85 crore.
While the LPG storage plant-2 has been built at a cost of Rs 15 crore to stock 225 metric tonnes, the retail outlet was developed for Rs 4.36 crore.
"While inaugurating, the CMD has asked the workers to put all out efforts to achieve the same with strict adherence to safety standards," RINL said.
RINL, under the Ministry of Steel, produces special steel, including wire rod coils, rounds, billets of different grade and dimensions.
The company is eyeing to produce 6.4 million tonnes of liquid steel and 5.8 million tonnes of saleable metal in 2019-20.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
