RINL, Powergrid tie up for Tower Manufacturing [Jan 2012]

January 11, 2012 10:35 am

Rashtriya Ispat Nigam Limited (RINL), Visakhapatnam Steel Plant and Power Grid Corporation of India Ltd. (POWERGRID) signed a Memorandum of Understanding (MOU) to set up a joint venture company for manufacturing of transmission line towers and tower parts including Research & Development of new high-end products.
According to a press statement, the JV will bring synergy between the producers RINL and user Powergrid which have been awaited since long time. The import of quality tower transmission lines will be addressed with this JV. Both RINL and Powergrid are coming together for intervention of R&D for development of new generation transmission towers which are required for fast expanding power sector. Timely availability of material to Powergrid will be the main advantage of the JV. The installation of the unit at Vizag will enhance the quick transportation including thro Sea route and also ensures opening the market for South East Asian countries. The JV will have a unique opportunity to tap the market in South East Asia and other areas where such development is taking place in power sector.

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