The modernisation of existing assets of the Rashtriya Ispat Nigam Limited, the corporate entity of the Visakhapatnam Steel Plant, is on track and the revamped Blast Furnace 1 is likely to start blowing by the month-end or beginning of May.
Parallel actions are being taken to revamp Blast Furnace 2, Sinter Plant and Converters. On completion they would enhance the production by a million tonnes apart from improving the efficiency. Further, an additional converter and caster have been ordered to convert the additional one million tonnes of hot metal to saleable products, Chairman and Managing Director of RINL P Madhusudhan said addressing the first press conference in the financial year and also the first after he took over as the CMD here on Saturday.
The RINL was introducing pulverised coal injection technology in the three blast furnaces, as it was cost-effective and low-quality coal could also be used.
The RINL expects 45 per cent hike in volume of production in 2014-15 as the expansion project reaches a critical stage and new units start production, he said reviewing performance of the plant during 2013-14 and its prospects during the current fiscal.
“We have increased the capacity of the plant from 3 million tonnes to 6.3 million tonnes by spending Rs. 11,000 crore or so and we will spend Rs. 4,000 crore on modernising the old units. The capacity would cross 7 million tonnes then,” he said and added that the ultimate vision was to make it a 20-million tonne steel plant.
The proposed forged rail wheel plant being set up in Rae Bareli in association with the Indian Railways was in the tendering process. He evaded a reply on any proposed diversification projects being taken up in the region. He said RINL was committed to its expansion and in the process is likely to help development of ancillary units in the region.
