NEW DELHI. State-owned Rashtriya Ispat Nigam (RINL) in a joint venture with Indian Railways is setting up a forged wheel plant with a capacity of 1,00,000 units per annum at Lalganj in Rae Bareli. The entire project will entail an investment of about R1,100 crore.
The project will become operational in 36 months from order placement and will provide employment to about 500-600 people. “RINL and Indian Railways will be mutually benefited from the ‘Assured Off-take’ agreement along with ‘Land Lease’ agreement,” steel minister Beni Prasad Verma said. The Railways have signed an off-take pact for 80,000 forged wheels per annum with RINL.