2012-06-13 - AMEinfo.com | Saudi Arabia | Latest News - Saudi Arabia: India's state-owned Rashtriya Ispat Nigam (RINL) is considering plans to form a joint venture with Saudi-based Rajhi Steel to build a 3 mtpa steel plant in the kingdom at an estimated cost of $3.6bn, Saudi Gazette has reported. "RINL is in talks with Rajhi Steel for a three million tonnes per annum plant in Saudi Arabia. The integrated plant would produce both long and flat products. RINL has forwarded non-disclosure agreement for signing," a source close to the development said. Riyadh-based Rajhi Steel has a current production capacity of more than three mtpa and sells most of its produce within the country. The gas-based plant would take five years to go on stream from the start of construction, the source said.  

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