Rashtriya Ispat Nigam Limited plans to lease 1,400 acres of land to NMDC
Central public sector giant Rashtriya Ispat Nigam Limited (RINL) (aka Visakhapatnam Steel Plant) has plans to lease of approximately 1,400 acres of land to the National Mineral Development Corporation (NMDC).
The move is aimed at generating the necessary working capital to sustain the operation of the plant as RINL grapples with a severe financial crisis.
Out of the total land holdings of 19,730 acres situated in Gajuwaka, Visakhapatnam, the steel plant occupies 11,000 acres. An additional 500 acres have been allocated for creating a residential township for the steel plant's workforce, while another 500 acres are designated for reservoirs used to store water for the plant.
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