5-MTPA JV unit: Govt in talks with Japanese, Korean firms for steel plant

摘要

Prodded by the Prime Minister's Office, the steel ministry has initiated talks with Japanese and Korean steel companies for setting up a 5-mtpa steel plant through a joint venture with state-run Rashtriya Ispat Nigam (RINL) in Visakhapatnam. The proposed venture, entailing an estimated Rs 30,000 cr investment, would produce high-end steel meant for automotive and other sectors aimed at imports substitution.