RINL plans SEZ in Andhra Pradesh

Tuesday November 14 2006 00:00 IST
Business & Economy News Bureau

KOLKATA: Rashtriya Ispat Nigam Ltd. (RINL) has sought 2,500 acre of land
from the Andhra Pradesh government for setting up a Special Economic
Zone, a top official said. “The proposal is still in a preliminary
stage. RINL has applied to the AP government for land,” Y Siva Sagar
Rao, RINL CMD said.

The company would develop the infrastructure and allot land to
downstream steel units, he said on the sidelines of an interactive
session with the Merchant's Chamber of Commerce. Rao said RINL’s Vizag
Steel plant, which was doubling capacity at a cost of nearly Rs 9,000
crore, would supply raw materials to the downstream units in the
proposed SEZ.

He said downstream units such as auto components, forging, wire rod,
pipe fitting would find place in the proposed SEZ which was likely to
come up by the end of 2008. The proposed SEZ would come up near the
Vizag Steel plant.

Rao said those who would put up the downstream units in the SEZ would
not have to run around for procuring raw materials. They would also get
the port facility nearby. RINL might float a special purpose vehicle for
developing the SEZ, but it is yet to be finalised, he said.

The RINL CMD hoped that the central government would come out with a
national mineral policy soon to ensure proper distribution of resources.
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