'This is despite lower net market sales realisations'
It registers growth of 20 per cent
CMD lauds significant success
VISAKHAPATNAM: The Visakhapatnam Steel Plant has achieved a phenomenal success by registering a turnover of Rs.9,000 crores with a month to go to complete the 2009-10 financial year.
This was possible despite lower net market sales realisations. The company owned by Rashtriya Ispat Nigam Limited achieved the target set by the Ministry of Steel by about 105 per cent. A significant aspect was that the sales volume of saleable steel achieved during 2009-10 (up to February) was about 2.67 million tonnes, surpassing the total saleable steel quantity of 2.62 million tonnes sold in the entire year of 2008-09. It registered a growth of 20 per cent over the corresponding period.
The thrust was on value added steel and, during the 11 months of 2009-10, the company sold 19.98 lakh tonnes of value-added steel compared to 16. 70 lakh tonnes sold in the corresponding period in 2008-09. Even in value-added steel sales, it surpassed last year's quantity sold by February. For the entire year of 2008-09 the quantity of value-added steel sold was 19.81 lakh tonnes. RINL Chairman-cum-Managing Director P.K. Bishnoi complimented the “works and marketing collective” of the company for the significant performance.