RINL puts up good show in three quarters of fiscal

Visakhapatnam: The challenges posed by the pandemic notwithstanding, Rashtriya Ispat Nigam Limited-the corporate entity of Visakhapatnam Steel Plant, has achieved best-ever sales value Rs19,357 crore with a volume 37,77,215 tonne during the three quarters of the current financial year.

This is the highest during the nine months of a financial year for the Visakhapatnam-headquartered company since its inception, a senior official told Bizz Buzz on Tuesday.

The sale of saleable steel stood at 3.7 million tonne registering a growth of 21 per cent over CPLY. The sales turnover stood at Rs19,357 crore registering a growth of 69 per cent. VSP the first shore-based integrated steel plant in India has a production capacity of 7.3 million tonne per annum. The Government of India is in the process of strategic disinvestment of the company.

Saleable steel production of RINL stood at 3.8 million tonne accounting for a growth of 44 per cent over CPLY. The saleable steel volume in domestic sales stood at 2.7 million tonne registering a growth of 36 per cent over CPLY.

RINL, a navratna company has also been awarded a 4-Star Export Trading House, for achieving two consecutive years with trade value more than Rs 4,000 crore.

In a tweet, the company said during the calendar year of 2021, RINL produced 5.09 million tonne saleable steel achieving a growth of 25 per cent over CPLY. Another tweet stated that continuing its legacy of operational legacy VizagSteel (the brand name of RINL's steel products) for the first time crossed hot metal production of six million tonne in a calendar year achieving 6.10 MT of production.