The Rashtriya Ispat Nigam Limited and the Cement Corporation of India today signed a Memorandum of Understanding in Vishakhapatnam to set up 2 mtpa Fly Ash and Blast Furnace Slag based Cement Plant in a Joint Venture in two phases of one million tonne capacity each.
RINL generates a large quantity of BF slag and fly ash, prime raw material for the Cement Plant.
CCI CMD Manoj Misra and RINL Director (Projects) PC Mohapatra signed the MoU in the presence of RINL CMD P Madhusudan.
The JV Project cost is approximately Rs 150 crore. The RINL is offering around 35 acres of land for the proposed plant in its premises. The project is proposed to be completed in 15 months from the date of placement of order.
Speaking on the occasion, Madhusudan expressed confidence that CCI would set up the plant with state of the art technology in a pollution free environment, with professional way and in a time bound manner. He observed that CCI should show commitment with their expertise to translate the dream into reality and RINL would extend necessary support to realize the goal in this regard, he added.
Manoj Misra said that CCI is one of the lowest cost producer of cement in the country and joining hands with RINL will be a win-win situation for both the Companies and help both the PSUs to offer more integrated product solutions to their customers.