Rashtriya Ispat Nigam Limited (RINL)-Visakhapatnam Steel Plant CMD Atul Bhatt has said that 2024 would be a very promising year for the company.
Participating in the New Year celebrations here on January 1 (Monday), Mr. Bhatt said that it was everyone’s responsibility to make 2024 a turnaround year for the RINL.
He described the plans to address the technical bottlenecks, financial and working capital issues, debt reduction strategies, raw material linkages and enhancement of the production to 100% capacity utilisation.
The RINL achieved a sales turnover of ₹16,766 crore and registered an impressive 21% growth in sales volume, 23% in domestic sales and 47% in the sale of Value Added Steel between April and December 2023. It also registered an impressive growth of 18% in TMT bars, 57% in wire rod coils and 19% in sales of the structural over the corresponding period last year, Mr. Bhatt said.
On the production front, the RINL’s crude steel production crossed 100-MT mark in June 2023, hot metal production from BF-2 crossed 50-MT landmark on October 25, and converter lining life of 9266 heats from Converter-D of SMS-2 was the best since the inception, he added.
