Public sector steel company, Rastriya Ispat Nigam Limited (RINL) has submitted a draft memorandum of understanding (MoU) to the state government for setting up an ultra mega steel plant in Keonjhar district (Odisha).
“RINL has submitted a draft MoU for the project. We are examining it and the project needs some modifications. A meeting will be held soon to finalise the MoU and after it, the MoU will be signed,” a senior official in the steel & mines department said.
He further added that no decision has been taken yet on the equity distribution in the project.
Notably, earlier NMDC and OMC had proposed to set up the steel plant at the same site of Patna tahsil of Keonjhar district, which was earlier identified for Arcellor Mittal’s 12 MnT pa steel plant. After Arcellor Mittal pulled out of the project, NMDC had submitted a draft tripartite memorandum of agreement for formation of SPV with OMC and IDCO to the state government. Furthermore, the state government had conveyed its in-principle approval for the project. But later, RINL evinced interest to be a partner in the project.
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