The Visakhapatnam steel plant - Rashtriya Ispat Nigam Limited has made impressive strides from April to December during the current financial year, especially in trying market conditions, according to Chairman and Managing Director P Madhusudan.
He was addressing the staff on the occasion of the New Year Day in the plant. He said the performance of the RINL was satisfactory during the period. Especially during the past two months, November and December, the plant produced one million tonnes and registered turnover of Rs 2,000 crores. There were no borrowings during the period (April to December).
He said the RINL had completed the expansion and modernisation projects to scale up the capacity to 7.3 million tonnes. During the period, the plant produced 3.65 million tonnes of hot metal (growth of 13 per cent), 3.54 million tonnes of liquid steel (15 per cent) and 3.19 million tonnes of saleable steel (15 per cent). The turnover during the period amounted to Rs 11,405 crores.
He released the new diary of the RINL and the calendar on the occasion.