RINL, the corporate entity of Visakhapatnam Steel Plant achieved yet another milestone in its strategic initiative with the laying of foundation stone for “Transmission Line Towers (TLT) Project” today, a Joint Venture (JV) between RINL and Powergrid at an estimated cost of around Rs 330 crores.
Sri P Madhusudan, CMD, RINL and Sri RN Nayak, CMD, Powergrid unveiled the plaque to mark the occasion.
Addressing the gathering, Sri P Madhusudan, CMD, RINL observed that business scenario in the country is becoming very challenging and initiatives such as this would help in meeting the competition through synergy of the participating companies. He evinced confidence that the JV would grow to great heights and wolud play a vital role in TLT sector.
Sri RN Nayak, CMD, Powergrid outlined the importance of the project and said that this is the first manufacturing unit of Powergrid. He evinced the hope that the project would commence production within a year to realize benefits at the earliest.
Sri PC Mohapatra, Director (Projects), Dr GBS Prasad, Director (Personnel), Sri DN Rao, Director (Operations), Sri B Siddhartha Kumar, IFS, CVO from RINL and Sri IS Jha, Director (Projects), Sri RP Sasmal, Director (Operations) from Powergrid and Sri Deepak Dutta, Director (Marketing), Mecon graced the occasion.
Earlier, Sri Wilson David, GM(Projects & Technology) and CEO of the JV welcomed the gathering. Sri PK Rath, DGM (Projects-TLT) proposed vote of thanks.
Senior Officers of RINL, Mecon, Dastur&Co, representatives of Steel Executives Association, union leaders, SC&ST association members and large number of employees attended.
Details of TLT Project: The RINL-Powergrid TLT private Ltd Company is a 50:50 Joint Venture by RINL and Powergrid is coming up in steel plant premises. The facilities include TLT Fabrications unit and TLT Galvanizing unit to produce 1,20,000 tons per annum of TLTs. The inputs such as Angles etc would be supplied by VSP.