The Hindu Business Line : RINL set to achieve Rs 7,500-cr turnover

RASHTRIYA Ispat Nigam Ltd is set to achieve a record turnover of Rs 7,500 crore during the current fiscal, according to the Chairman and Managing Director, Mr Y. Siva Sagara Rao.

At a function in Ukkunagaram on the occasion of the Republic Day, he said the capacity of the plant would be expanded to 7 million tonnes by 2007 from the present 3.2 million tonnes. The board had approved the expansion plan and it had been submitted to the Ministry of Steel.

He said the plant was currently operating at 115-120 per cent of rated capacities.He stressed the need to achieve cost reduction, energy efficiency, waste recycling and process improvement. He said the expansion would have to be funded through internal resources and therefore the costs would have to be reduced further.

The immediate priority was the upgradation of the automation systems and introduction of new technologies for improving productivity. The R&D wing had been constituted to provide thrust to the area, he added.

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RINL set to achieve Rs 7,500-cr turnover