To triple its capacity to 20 million tonne by 2027, the government-owned steelmaker Rashtriya Ispat Nigam (RINL) or Vizag Steel in Visakhapatnam/Vizag is planning to invest Rs 60,000 crore. RINL is in the process of stabilising new units under the current phase of expansion that got delayed by over a year following an accident at its Vizag plant.
In this month, a wire rod mill and steel melting shop, will be commissioned raising the company's capacity to 6.3 mtpa, from 3 mtpa, the company said in Delhi.
Thereafter, RINL will increase capacity by additional 1 mt through modernisation of its old units. It has also revived the plan to set up a 4 mt new unit for flat products and it is under consideration, the company said, adding that new flat mill is targeted to be commissioned by 2019-20.