RINL to invest around Rs 38500 crores in Andhra Pradesh

New Delhi Jan 11 (KNN) To boost investment in the state, Andhra Government has signed a Memorandum of Understanding (MoU) with the Rashtriya Ispat Nigam Limited (RINL) which envisages facilitating investment of around Rs. 38,500 crores by RINL to take up various projects at Visakhapatnam with an employment opportunity to around 3000 people. RINL is a corporate entity of Visakhapatnam steel plant.
 
Andhra Pradesh Government and RINL agreed on the importance of infrastructure and industrial development in Andhra Pradesh and agreed for mutual cooperation for facilitating investments in Andhra Pradesh., said an official release.

The MoU was signed during the “22nd CII Partnership Summit & 1st Sunrise AP Investment Meet” currently being held in Visakhapatnam.

As per the MoU, the state government will support the company’s participation in significant projects in Andhra Pradesh wherever feasible. (With PIB Bureau)