Russian Company Interested in Investing in Visakhapatnam Steel Plant
The Russian company 'Novostal-M' is showing interest in investing in the Visakhapatnam Steel Plant (Rashtriya Ispat Nigam Limited - RINL). Amidst the growth of the country's shipbuilding sector, the government is supporting various companies coming forward to establish shipbuilding centers in Andhra Pradesh. However, the domestic production of marine steel—a key raw material for shipbuilding—remains very limited.
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