Rashtriya Ispat Nigam Ltd (RINL) has expressed its interest to pick up 20% stake in mining Special Purpose Vehicle (SPV) for the proposed ultra-mega steel plant in Odisha. ” We are seeking to take 20 percent stake in the mining SPV,” RINL CMD P Madhusudan said at an event organized by MCC Chamber of Commerce and Industry.Two SPVs are proposed to be created for the ultra-mega steel plant to be set up in Odisha out of which one will be for mining and the other for the steel plant.Initially, Odisha Mining Corporation and NMDC Ltd were supposed to be partners for the mining SPV.

The finer details would be finalised only after the MoU is signed said Madhusudan.