Rashtriya Ispat Nigam (RINL) is setting up a 3 million tonne cement grinding unit, making use of 0.6 million tonne of flyash, a million tonne of slag from the blast furnaces and the rest being cement clinker. A JV will be formed for setting up the plant with the RINL having 26 per cent equity in it.
RINL has allocated 100 acres for the project and appointed a senior official and other staff to push it through. According to sources, the site selected for the project is near Gangavaram Port in Andhra Pradesh.
A valuer has been appointed to apprise the land cost and the project. At present rates, this may entail an investment of Rs 500 crore or so including land cost. A consultant will be appointed for the project at a later stage and JV partners have not been identified yet.
The setting up of a cement plant has become urgent in view of the capacity expansion of RINL from 3 million tonne to 6.3 million tonnes. RINL has ambitious plans to take up further expansion to 16 million tonne by 2020.