Rashtriya Ispat Nigam Limited, the corporate entity of Visakhapatnam Steel Plant, is getting ready to commission hot metal production under the 6.3-million tonne expansion project this month after setting itself an internal target to achieve a sales turnover of Rs.20,000 crore during the current fiscal.
Disclosing this at the inaugural session held at Ukku Club in Ukkunagaram, RINL Chairman-cum-Managing Director A.P. Choudhary exuded confidence that with market showing signs of improvement, the Navratna company would achieve targets due to brand loyalty of its clients and the coordinated efforts of RINL Collective.
The summit is attended by over 200 customers and vendors from across the country along with marketing, material, works, finance and other senior executives of RINL. The participants were also taken round the plant to have the first-hand knowledge of its ongoing expansion.
Mr. Choudhary said the per capita steel consumption in the rural areas increased from seven to 8-10 kg during 2011-12. With huge investments envisaged in 12th Five Year Plan on infrastructure, the demand for steel was set to go up significantly, he stated.
Efforts lauded
He lauded the efforts of the marketing department and support of customers in achieving the record turnover of Rs.14,457 crore during 2011-12. The expansion products from RINL were going to hit market in the first quarter of this fiscal and RINL would be taking up a strong product campaign to position its products strategically.
RINL Director (commercial) T.K. Chand in his welcome address said due to aggressive marketing policy, the company could penetrate into eastern region and other areas by strengthening the network.
By making rural networking a priority area, the company could achieve an all-time record turnover with a growth rate of 26 per cent during 2011-12, he stated.
Congratulating customers from west, north and east on recording growth ranging from 10 to 21 per cent, he said the customers of south and Andhra had extended good support for exalting RINL to a position of eminence in south market.
He said that RINL had registered 6.5 per cent growth in sales volume in iron and steel products.
He predicted that domestic steel consumption would increase by 10 per cent during 2012-13 and market was going to be in upswing. But he cautioned that there was a need to maintain steady pricing and better customer service to prevent import.
A presentation on market scenario and RINL marketing was made. RINL Directors Umesh Chandra (operations), P. Madhusudan (finance), Y.R. Reddy (personnel), Chief Vigilance Officer Sidharth Kumar and others were present.
