Public Enterprises Selection Board (PESB) Member Ashwani Kumar Datt on Monday said Rashtriya Ispat Nigam Limited had a bright future with its corporate vision to expand its capacity to 20 million tonne per annum.
After witnessing a corporate presentation of RINL, he said difficult situations faced by RINL had led to the success of the organisation and now standing big in the steel industry. He was impressed with clean and green technology implemented at Visakhapatnam Steel Plant and congratulated the RINL collective for achieving excellent performance year after year even though not having captive iron mines.
RINL Chairman-cum-Managing Director A.P. Choudhary said their company was professionally managed and taking several steps to improve its bottom line year after year and continuously earning net profits since a decade.
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He mentioned that big boost was being given to R&D activities and RINL would spend around Rs.100 crore towards R&D by 2015. He said that major challenges before RINL were stabilisation of expansion units, raw material securitisation and improvement of bottom line in view of steep escalation of raw material costs.
Mr. Datt later visited various production units in the plant and planted saplings at Dedication Park. He also visited Model Room and Awards Gallery at ED (Works) building. RINL Directors Umesh Chandra (Operations), P. Madhusudan (Finance), N.S. Rao (Projects) and others were present.
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