RASHTRI ISPAT NIGAM LIMITED VISAKHAPATNAM STEEL PLANT

VISAKHAPATNAM CORPORATE COMMUNICATIONS DEPARTMENT

MEDIA RELEASE DATE 03.10.2013

RINL AND INDIAN RAILWAYS SIGN AGREEMENT FOR SETTING UP FORGED WHEEL FACTORY AT RAE BARELI

India’s largest Forged Wheel Plant projects ‘Agreements’ got signed today between Rashtriya Ispat Nigam Limited (RINL) and Indian Railways in the presence of Hon’ble Union Minister of Steel, Shri Beni Prasad Verma and Hon’ble Union Minister of Railways, Shri Mallikarjun Kharge this afternoon in New Delhi. Sri Adhir Ranjan Chowdhury, Minister of State for Railways also present on this occasion.

Photo Caption: The Union Minister of Steel, Sri Beni Prasad Verma, the Union Minister of Railways, Sri Mallikarjun Kharge and other dignitaries pose for a photograph after signing of the agreement in New Delhi today.

Congratulating, both RINL and Indian Railways, Hon’ble Minister of Steel said, “These Agreements will start a new chapter of cooperation between Indian Steel Industry and the Railways.” He further added that RINL and Indian Railways will mutually be benefited from these ‘Assured Off-take’ Agreement along with ‘Land lease’ Agreement. This initiative of Ministry of Steel will add pace to industrial development in Uttar Pradesh and will go a long way in accelerating the pace of economic development. Hon’ble Railway Minister, complimented Sri Beni Prasad Verma for the initiatives of Ministry of Steel for development of steel industry in India and for strengthening the cooperation between both the Ministries. He advised RINL, Visakhapatnam to complete the project timely so that the requirement of wheels for Indian Railways is met indigenously.

Sri AP Choudhary, CMD, RINL while welcoming the dignitaries mentioned that the project has already frozen and process of order placement is in the advance stage. The global technology/ equipment suppliers from Germany, Russia, China along with reputed Indian agencies are participating in the bidding process. The quality of wheels manufactured in the plant will be tested and certified by International certifying agency “TTCI”, USA. Land has also been identified and preliminary site activities commenced. The Forged Wheel Plant at Lalganj, Raebareli will be set up near to Rail Coach Factory in Uttar Pradesh and will produce 1 lakh numbers of Forged Wheels per annum in the First phase for ‘Locos and High speed trains’ with an investment of about Rs. 1100 crores. The capacity of the plant will be doubled in the Second phase for a production of over 2 lakh wheels per annum.

The Factory will become operational in 36 months from order placement date and will provide employment to about 500 to 600 people. The unit will have an added locational advantage due to its proximity with the Rail Coach Factory, Raebareli. RINL will supply Steel Cast Rounds to the Wheel Plant from its state of the art new Caster being installed with German technology at its unit at Visakhapatnam. Sri G Mohan Kumar, IAS, Secretary (Steel) and Sri Arunendra Kumar, Chairman, Railway Board also spoke on the national significance of import substitution project. Members of the Railway Board, senior officials of Ministry of Steel & Ministry of Railways, Directors of RINL were also present during the signing of the Agreements. Sri P Madhusudan, Director (Finance), RINL thanked the dignitaries for making the function success.

BS Satyendra

Asst General Manager (CC)