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Visakhapatnam, Aug. 17 Steel Authority of India Ltd (SAIL), Rashtriya Ispat Nigam Ltd (RINL) and National Mineral Development Corporation (NMDC) on Friday signed a memorandum of understanding (MoU) in New Delhi for setting up a 4-million-tonne per annum integrated steel plant in Chhattisgarh, according to a press release issued here by the steel plant authorities.

The press release says: “The three majors generate synergies which could be leveraged for meeting the growing demand for steel in a booming Indian economy. Both RINL and SAIL have drawn up ambitious expansion plans, as the consumption of steel is going up by 11-12 per cent per annum.”

The MoU envisages setting up of a joint venture.

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