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Home arrow Defence arrow Powergrid and RINL sign MOU for Tower Manufacturing JV
Powergrid and RINL sign MOU for Tower Manufacturing JV Print E-mail
Written by Viswanath   
Friday, 16 December 2011
New Delhi: Power Grid Corporation of India Ltd. (Powergrid) has signed an MoU with Rashtriya Ispat Nigam Limited (RINL) to set up a Joint Venture Company for manufacturing of Transmission Line Towers and Tower Parts including Research and Development of new high end products. The MoU was signed by Mr. R. N. Nayak, CMD, Powergrid and Mr. A.P Choudhary, Chairman-cum-Managing Director of RINL.

Rashtriya Ispat Nigam Limited – Visakhapatnam Steel Plant (RINL-VSP), a Navratna company popularly known as Vizag Steel, has an annual capacity of 3 million tonne of liquid steel and a turnover of over Rs. 11,500 Cr.

It produces various grades of long products like TMT Rebars, Wire Rods, Rounds, Structurals, Squares etc which are widely used in infrastructure projects. RINL is now doubling its capacity to 6.3 mtpa at a cost of Rs. 12,500 Crs. which will be available by end of current year.

RINL-VSP today produces special grades of steel of about 78% of its total production meeting the requirement of high grade steel for projects of National importance which include Metros, Indian Railways, Power Sector, Nuclear Complexes and several others.

Power Grid Corporation of India Ltd. (Powergrid), the Central Transmission Utility (CTU) of the country, operating under Ministry of Power, owns & operates a transmission network of about 87,878 ckm and 141 nos. of EHV & HVDC Substations. Powergrid has reported a Net Profit of Rs. 2,697 Crore for FY 2010-11, a 32% rise compared to last financial year. Turnover of the Company rose to Rs. 9,100 Crore, up by 21% year-on-year. Company’s total Fixed Assets as on 31st March, 2011 is Rs. 50,352 Crore.

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