P. Madhusudan, Director (Finance), Rashtriya Ispat Nigam Ltd (RINL) – Vizag Steel Plant, assumed charge on Wednesday as the company’s CMD. A.P Choudhury retired from the post on Tuesday, said a press release.

Madhusudhan, who had joined RINL in 2009, will hold the new post for the next five years, as the company plans to increase its capacity to reach to 11-12 mtpa and become a “maharatna”. Addressing a gathering of senior officers on the occasion of the New Year, he called upon all the HODs to propagate the “cost culture” across the organisation to improve the bottom line. “Generation of adequate surpluses has become mandatory to fund the modernisation of equipments and unless concrete measures are taken, the progress of our growth is likely to get hampered,” he said.