RINL invites Expression of Interest (EoI) from the interested existing Rolling Mills (RM) for conversion of RINL's Billets into CTD/TMT Rebars and Structurals in Sri Lanka. RINL has taken this decision for expanding its business.
Rashtriya Ispat Nigam Limited, the corporate entity of the Visakhapatnam Steel Plant, state owned and India's largest long steel manufacturer with an annual production of around 2.5 million tonnes, is looking to expand its business in other countries. It has recently invited interests from experienced rolling mills based in Sri Lanka for conversion of its high grade billet into re-bars.
RINL has decided to invest approximately Rs.23,000 crore on next phase of expansion, which would give it an additional four million tonne capacity. At present, the Navratna company is ramping up various facilities developed under the first phase of expansion from 3 to 6.3 million tonne with an investment of Rs.12,500 crore. RINL Chairman-cum-Managing Director A.P. Choudhary told reporters that the next phase of expansion would enable them to foray into manufacturing high-end flat products and seamless tubes required for defence and other sectors.
RINL may see its export revenue more than doubling to around Rs 1,200 crore in the near future on the rupee depreciation and an increased thrust on overseas shipments, a top official of the public sector steel firm said.
“Exports during 2012-13 was around 8 per cent of the total volume of iron and steel. This fiscal, more volume of steel is going to be exported. From the existing level of Rs 500 crore, the revenue from exports may go up to Rs 1,000-Rs 1,200 crore,” RINL Director (Commercial) T K Chand said in an email reply to PTI.
He said with ramping up of production, RINL aims to increase export composition to go up to 15-20 per cent of its product volume in next 3-4 years from 8 per cent in the last fiscal.
Period of Agreement: It shall be for a period of minimum 2 years extendable by 1 more year.
General Conditions:
1. The party must have minimum 3 years of experience in conversion of Billets into
CTD/TMT Rebars and Structurals and also own a valid licence for production.
2. RINL will arrange for the dispatch of material on FOB Visakhapatnam basis at
RINL's cost.
Specification:
|
RINL Products ( Raw material) |
Finished Products ( Converted ) |
|
1. MMSM Billets – MS Grade(IS2830) 65×65 / 75×75 / 90×90 mm |
1. CTD/TMT Rebars – Fe 500 / Fe 500D Size 8 mm to 32 mm |
|
2. Cast Billets – – MS Grade(IS2830)
125×125, 150×150 mm |
2. Structurals – MS Grade Size 50 mm to 75 mm Equal & Unequal Angles / Channels / Flats / Joists |
Important Dates:
Due Date: 17.00 hrs on 07 Oct, 2013
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