‘Focus on higher productivity and improving techno-economic parameters’

Additional Secretary and Financial Adviser, Ministry of Steel, Vinod Kumar Thakral, on Thursday advised the management of Rashtriya Ispat Nigam Limited to focus on cost reduction and set new benchmarks in techno-economic parameters.

During his maiden visit to Visakhapatnam Steel Plant here, he said the RINL Collective, which had plans to convert VSP into the largest single location steel plant with a capacity of 20 million tonne, should lay more emphasis on higher productivity, cost-effectiveness, and improving techno-economic parameters.

Mr. Thakral inaugurated the Coal Firing System of Boiler-6. The boiler, which was recently put on oil and gas (waste gas) firing, is fully ready now with the commissioning of the Coal Firing System.

The additional steam would help in enhancing the captive power generation by another 60-65 MW.

The boiler and generator have been supplied and erected by BHEL at a cost of around Rs. 700 crore.

He also planted saplings at Dedication Park, paid a visit to Model Room and Awards Gallery, and later visited various production units and expansion areas of Coke Ovens, Sinter Plant, Blast Furnace-3, Steel Melt Shop-1 and 2, Wire Rod Mill-1 and 2.

Impressed with rich vegetation in and around VSP at Ukkunagaram, he indicated that he was aware of the shortcomings of RINL for not having any captive source for major raw materials, but expressed confidence that RINL would overcome the problem with its dynamic leadership and efficiency of the team.

Welcoming Mr. Thakral, RINL Chairman-cum-Managing Director A.P. Choudhary indicated that the company was on the right path in pursuing its growth plans and briefed the Additional Secretary about RINL’s directional growth plans, strategic initiatives like raw material securitisation, joint venture initiatives, and business diversification plan.

RINL Directors Umesh Chandra (Operations), P. Madhusudan (Finance), T.K. Chand (Commercial), YR Reddy (Personnel), NS Rao (Projects) and others were present.