Rashtriya Ispat Nigam Ltd. (RINL) signed a memorandum of understanding with Indian Railways to set up an axle plant in West Bengal, India, for manufacturing and supplying rail axles. Indian Railways selected RINL to set up the state-of-the-art plant because of its technological strength in special grades of steel and for its reputation of adopting the latest technology for the production of high-quality steel. The new axle plant will have a capacity to forge and heat treat about 50,000 axles per year.