RINL is looking to set up a 3Mt/ysteel plant in Jharkhand, India, with an investment of INR 165bn (US$2.7bn).
RINL has applied to the state for access to Ghatkuri mine, located in the West Singhbhum district, which is spread over 2600 acres and is one of the largest iron ore mines in the country with estimated reserves of 600Mt.
The state government, however, is thought to be more inclined to licence the mine to the Jharkhand State Mineral Development Corp, and has thus advised RINL to consider a joint venture agreement with them. RINL has agreed to this plan, and also plans to set up a beneficiation plant and a steel rolling mill to further its ventures.