Date:30/01/2008 URL: http://www.thehindubusinessline.com/2008/01/30/stories/2008013052742300.htm

RINL, SAIL sign pact for lime stone

Visakhapatnam, Jan. 30

The Rashtriya Ispat Nigam Ltd (the Vizag steel plant) and the Steel Authority of India Ltd (SAIL) have signed a memorandum of understanding here on Tuesday for acquisition of high-grade lime stone in Oman, according to a press release. Both will be 50:50 partners in the venture. Lime stone is used as flux material to remove impurities in steel-making. Currently, the RINL is importing 3.5 lakh tonnes of high-grade lime stone annually. The deal will help cut down the costs. Mr M.V.R. Sarma, Executive Director (Corporate Affairs) of RINL, and Mr A.K. Jain, Executive Director (Corporate Planning) of the SAIL, signed the MoU. - Our Bureau