Visakhapatnam Steel Plant has set a target of achieving a sales turnover of Rs 20,000 crore during 2014-15, according to Chairman and Managing Director P Madhusudan.
He was addressing the regional managers, regional finance managers, branch managers and marketing contact officers at the steel plant on Saturday.
He said the company plans to achieve a turnover of around Rs 20,000 crore in 2014-15 and it would be progressively increased to Rs 30,000 crore by 2016-17.
Madhusudan also congratulated the marketing team for achieving a sales volume of more than 3 million tonnes despite sluggish market in 2013-14 and exhorted them to fulfill the target of 4.425 mt, an increase of 46 per cent, in 2014-15.
He said that during the Twelfth Plan, the Government had earmarked Rs 50,000 crore for infrastructure projects and it had already cleared several projects and that augured well for the domestic steel market, particularly for long products.
"RINL is conducting a serious exercise for despatch of products through coastal transport, container and road movement to various destinations in the country," he added.
Madhusudan exhorted the marketing department to play a bigger role in tapping new markets.
T.K Chand, Director (Commercial), said 2014-15 would be a turnaround year for steel industry and said that RINL is all set to achieve a strong growth in sales performance during the current year.
He said that major thrust has been given to exports, particularly to the Gulf and African countries due to freight advantage.
Chand said RINL's contribution in exports have helped India to become a net exporter of steel after eight years of being net importer.
"Earlier, RINL exported its products for global presence, now the scenario has changed and the company is focusing on exports for better realisation, buoyancy in market, hassle-free evacuation of products and export earnings," he added.
R Shankar, ED (Marketing), participated in the meet.