Rashtriya Ispat Nigam Limited (RINL) Vizag Steel performed significantly in 2018 by recording around 20 percent growth across its operations.
Disclosing this while addressing the senior officers of RINL-VSP on the occasion of New Year 2019 in Ukkunagaram on Tuesday, Chairman-cum-Managing Director of the plant PK Rath also observed that notable achievements were made in high end value added steel production, increase in capacity utilisation in the new mills, improvement in power generation and handling of raw materials.
He called upon the employees to primarily focus on increase in 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 1,500 crore 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.
Rath 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.
Earlier, Corporate Strategic Management department in their presentation highlighted the achievements and the challenges before RINL during the year 2019.
RINL-VSP registered a growth of percent, 16 percent and 15 percent in Hot Metal, Liquid Steel and Saleable Steel production respectively during April-December last year. All the steel mills also recorded notable performance during the period.
On Sales front, RINL recorded 29 percent growth at Rs 14,687 crore compared to the corresponding period last year of Rs 11,395 crore during the period. Sales volume achieved a growth of 8 percent and Value Added Steel recorded a growth of 25 percent.