Rashtriya Ispat Nigam Limited, the corporate entity of Visakhapatnam Steel Plant, is getting ready to meet market demand by increasing its production. The company recorded a growth of five per cent in liquid steel and 13 per cent in bar products. RINL recorded a cumulative growth of nine per cent in saleable steel production during the last four months (April–July).
The power generation also increased by four per cent during the month and with this RINL has been able to meet over 90 per cent of its monthly requirement of power from captive sources, a company spokesman said on Saturday. Sinter production from New Sinter Plant also commenced and the unit is likely to be stabilised within a month.
RINL Chairman-cum-Managing Director A.P. Choudhary said the plant is fully geared up to supply additional volume of long products to meet the market demand. He said the market was set to rebound particularly for long products with the recent government announcement towards bringing newer infrastructure products.
RINL sold about two lakh tonnes of steel, with a growth of 19 per cent during July and a cumulative growth of four per cent during April–July. Value added steel recorded a growth of 21 per cent in July with a cumulative growth of 10 per cent during past four months.
The sales turnover is also higher in July by seven per cent. However, the cumulative turnover is lower by 10 per cent due to sluggish market.
RINL has started Marketing Contact Offices (MCO) in the country at Trichy, Raipur, Ranchi, Allahabad, Siliguri, Jammu and Panaji.
With this the total number of RINL’s outlets across the country has gone up to 30. Thirty dealers have been added during the year.
Sinter production from the new sinter plant also commenced and the unit is likely to be stabilised within a month