Rashtriya Ispat Nigam (RINL) will sign a pact with National Mineral Development Corporation (NMDC) for a joint venture to set up a 336-km slurry pipeline and a pellet plant with an investment of Rs 2,200 crore.
As per the agreement, the two will form a joint venture, which will set up the pipeline for transporting fines in the form of slurry from NMDC’s Bailadila mine to RINL’s Vizag facility where the pellet plant will be located.
“All the modalities regarding the shareholding and the investment of the joint venture will be worked out later. It will be done in due course,” a source said.
Published 23 May 2012, 19:00 IST