Go for JV to face competition, RINL told    

Union Minister Dharmendra Pradhan says Centre trying to supply raw material at special price to RINL from OMDC

Published: 10th November 2019 03:02 AM  |   Last Updated: 10th November 2019 09:09 AM   |  A+A-

Union Minister for Petroleum, Natural Gas and Steel Dharmendra Pradhan having a word with RINL CMD PK Rath at the plant in Visakhapatnam on Saturday I Express

By Express News Service

VISAKHAPATNAM: Union Minister for Petroleum, Natural Gas and Steel Dharmendra Pradhan on Saturday said the steel ministry was addressing the issue of captive iron ore mines to ensure raw material security to Rashtriya Ispat Nigam Ltd (RINL), corporate entity of Visakhapatnam Steel Plant (VSP).

Addressing senior officers of the steel plant, Pradhan said the Steel Ministry was pursuing with the Odisha government regarding operationalisation of iron ore mines of Orissa Mineral Development Company (OMDC). The ministry is also trying to supply raw material at special price to the RINL from the OMDC and the RINL would largely benefit from it, Pradhan said. The RINL has been aspiring for captive iron ore mines to face the competition and to reduce cost of production, he said.

The Union minister said the RINL should go for joint ventures to face competition, wealth creation and provide more value and increase the economic activity in this region. He said Andhra Pradesh, Odisha, Jharkhand and Chhattisgarh are rich in minerals and have great potential for development. He observed that with increase in economic activity there will be more employment opportunities,  generation of more revenues to local and Union government.

In his welcome address, RINL Chairperson and Managing Director PK Rath said the minister’s visit has given a great inspiration to entire RINL collective and  explained about the expansion, modernisation and completion of Kaniti Balancing Reservoir-2, Central Dispatch Yard and Twin Ladle Heating Furnace, considered as completion of 7.3 mtpa expansion of the plant.

MPs MVV Satyanarayana and Satyavathi, MLA T Nagireddy, former MP K. Haribabu and RINL directors KC Das, VV Venugopal Rao, DK Mohanty, KK Ghosh and AK Saxena were also present.The Union minister also interacted with representatives of unions, SC & ST, and OBC associations among others. Earlier, Pradhan was accorded a warm welcome. The minister along with CMD and RINL directors visited the model room, blast furnace-3, steel melt shop-2 and  wire rod mill. 

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