RINL sales surge 29%
The current fiscal seems to be rewarding the corporate entity of VSP, RINL. As per an official release from the company it stated that RINL recorded a 29% growth on the sales front at Rs 14,687 crores compared to Rs 11,395 crores for the corresponding period last year. Sales volume achieved a growth of 8% and Value Added Steel recorded a growth of 25%.
RINL-VSP also registered a growth of 18%, 16% and 15% in Hot Metal, Liquid Steel and Saleable Steel production respectively during April-December’18. It was stated that all the steel mills also recorded notable performance during the period.
Addressing RINL’s senior officers, its CMD, Mr PK Rath stated that Vizag Steel had achieved many heights and significant performances during the year 2018 wherein it recorded around 20% growth across its operations.
Mr Rath said that notable achievements were made in high end value added steel production, increase in capacity utilization in the new mills, improvement in power generation and handling of raw materials.
He congratulated the RINL collective for the achievements and said that challenges are many but expressed the confidence in the capabilities and commitment of RINL collective to propel the Company on a continuous growth path.
Mr Rath called upon the employees to primarily focus on increasing Pulverized Coal Injection (PCI) usage in Blast Furnaces to reduce cost of Hot Metal production and added that a PCI rate of 100 kg/ton hot metal brings in a savings of Rs 1500 crores per year. He exhorted the employees to achieve the targets during the 4th Quarter by improving the volumes, production more from the Blast Furnaces and Steel Melt Shops and finishing mills.
He further released the New Year Diary 2019 brought out by Corporate Communications Department to mark the occasion in the presence of Mr P Raychaudhury, Director (Commercial), Mr KC Das, Director (Personnel) and Mr VV Venugopal Rao, Director (Finance).
Executive Directors, GMs, HOD, senior officers, representatives of Steel Executive Association, unions, WIPS, SC&ST association were also present on the occasion.