RINL-Visakhapatnam Steel Plant registers a 31% growth in turnover to Rs 9,650...

RINL-Visakhapatnam Steel Plant registers a 31% growth in turnover to Rs 9,650 crore

RINL-Visakhapatnam Steel Plant has registered a 31% growth in turnover to Rs 9,650 crore during April-November’17 compared to the same period last year.
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The plant also reported a 15% increase in saleable steel production to 2.76 million tonne during April-November 2017 compared to 2.4 mt in the same period last year.

Read More: Review of initiatives taken by the Steel Ministry to enhance demand and production of steel

While there was a 12% growth in hot metal output during the period under review, liquid steel production went up by 14% over April-November 2016, RINL said in a statement of Wednesday. During the period, finishing mills of expansion –the Wire Rod Mill–2, Special Bar Mill and Structural Mill also contributed significantly to the growth, the statement said.

RINL said it managed to sustain the growth in November 2017 despite shortage of iron ore due to damage to Kothavalasa-Kirandal Line. With alternate arrangements being made to ensure supply of iron ore, RINL is targeting higher levels of production in December 2017

P Madhusudan, chairman, RINL observed that “the growth clearly reflects the company’s march towards ramping up of capacity during the current year.” Measures being taken by steel ministry and internal initiatives have led to performance improvement, he added.

Info- economictimes.

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