• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Visakhapatnam, Sept. 4 Rashtriya Ispat Nigam Ltd (RINL), the holding company of Visakhapatnam steel plant, achieved a record sales turnover of Rs 3,431 crore during the period from April to August this year.

The figure for the last financial year stood at Rs 9,151 crore, it was stated at the company’s annual general meeting here on Monday.

Mr P.K. Bishnoi, Chairman and Managing Director, presided over the meeting. Mr T.V.A. Ram, Under Secretary in the Union Ministry of Steel, represented the Union Government.

Mr Bishnoi said that the plant had embarked on an ambitious expansion programme to hike its capacity from 3 million tonnes (mt) to 6.3 mt and that orders for the plant and equipment had been placed.

He said the expansion would be funded mostly through internal resources apart from debt and that the corporate plan to hike the capacity to 16 mt by 2020 had been finalised.

The company earned a net profit of Rs 1,363 crore for the year.

More Stories on : Performance | Steel

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Taj to hike room tariffs from October 1

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line