Business Daily from THE HINDU group of publications
Thursday, Aug 28, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Aug 28, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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Performance RINL turnover up at Rs 10,433 cr Our Bureau Visakhapatnam, Aug. 27 Rashtriya Ispat Nigam Ltd (the Vizag steel plant) has achieved a record Rs 10,433-crore turnover during 2007-08, and it has been a very satisfying year, according to Mr P.K. Bishnoi, the Chairman and Managing Director. He was speaking at the annual general meeting in the plant here on Wednesday. Mr Bishnoi said the project to hike capacity from 3.6 million tonnes to 6.3 million tonnes would be completed on schedule by 2010-11. Orders worth Rs 8,939 crore had been placed by March 31, he said, and added that the company had enough resources to fund its expansion. The production of value-added steel had touched an all-time high of 18,94,098 tonnes (74 per cent growth over the previous year) and RINL was focusing on expansion of rural distribution network and reaching new customers. The company was continuing its efforts to have raw material security through the joint venture route and also by establishing a special purpose vehicle for overseas coal mines, he said. RINL had allocated Rs 13.72 crore towards discharging its corporate social responsibility. More Stories on : Performance | Steel
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