Companies

RINL turnover up 31% in April-November period

Ch.R.S Sarma Visakhapatnam | Updated on January 09, 2018 Published on December 06, 2017

Rashtriya Ispat Nigam Ltd - Visakhapatnam Steel Plant has achieved significant growth in production during the April-November period of the current fiscal, according to a press release.

Significant growth was also registered from the finishing mills of expansion - wire rod mill – 2, special bar mill and structural mill during the period.

According to company authorities, RINL could sustain growth in November despite a shortage of iron ore due to the damage to the Kothavalasa-Kirandal line.

The plant registered growth of 12 per cent in hot metal production, 14 per cent in liquid steel production and 15 per cent in saleable steel production. RINL produced 2.76 mt of saleable steel during the period as against 2.4 mt in the corresponding period last year. Turnover also increased by 31 per cent to Rs 9,650 crore during the period.

P Madhusudan, CMD, said “the growth clearly reflects the company’s march towards ramping up capacity in the current year".

He said RINL is targeting higher levels of production in December and "is poised to achieve them with alternative arrangements being made to ensure supply of iron ore."

It is expected that iron ore supply through the normal route, the Kothavalasa-Kirandul (K-K) railway line from the Bailadilla mines, may resume later this month with the completion of repairs to the track which was damaged due to a landslide.

Published on December 06, 2017
This article is closed for comments.
Please Email the Editor