Steel PSUs sign pact to set up Rs. 3,500 crore slurry pipeline.

State-owned steel firms - KIOCL, NMDC and RINL - have decided to set up 13 million tonne per annum (mtpa) slurry pipeline between Nagarnar and Vizag for carrying iron ore with Rs. 3,500 crore investment. They have already inked an MoU for setting up a joint venture in which Kudremukh Iron Ore Company (KIOCL) will hold 48 per cent stake, a source in the Steel Ministry said.

NMDC, country's largest iron ore miner, and steel-maker Rashtriya Ispat Nigam Ltd. will hold 26 per cent each. The companies may rope in an international technology/ equity partner to join the project at a later stage.

ET