The Visakhapatnam Steel Plant, also known as Rashtriya Ispat Nigam Limited (RINL), has achieved 29 per cent growth in sales, according to Chairman and Managing Director P.K Rath.
Addressing the staff of the plant on Tuesday, he said there were notable achievements in high-end, value-added steel production, increase in capacity utilisation in the new mills, improvement in power generation and handling of raw materials.
He called upon the employees to primarily focus on the increase in pulverised coal injection (PCI) usage in blast furnaces. This would help reduce the cost of hot metal production and added that a PCI rate of 100 kg/ton hot metal results in savings of Rs 1,500 crores per year. He urged the employees to achieve the targets during the fourth quarter by improving the volumes.
He said that many challenges are ahead, but expressed confidence in the capabilities and commitment of the RINL collective to propel the company on a continuous growth path. He also released the New Year diary.
The RINL-VSP registered growth of 18 per cent, 16 per cent and 15 per cent in hot metal, liquid steel and saleable steel production respectively during April-December’18. All the steel mills also recorded notable performance during the period.
On the sales front, RINL recorded 29 per cent growth at Rs 14,687 crores compared to Rs 11,395 crores during the corresponding period last year. The firm’s sales volume saw a growth of eight per cent while value-added steel grew by 25 per cent.