VSP expansion work going on in full swing: CMD

Visakhapatnam, Feb 27 (UNI) Visakhapatnam Steel Plant (VSP) Chairman and Managing Director Y Siva Sagar Rao today said the expansion works was going on in full swing.

Informing this at a panel of judges meeting here, he said the road map has been made to expand the capacity of VSP, the RINL's holding company to 16 million tonnes by 2017-2018.

Stating that strategic focus was on research and development and value-added steel, he said novel initiatives by the VSP management and the concerted efforts of RINL's collective had put Vizag steel on top of Indian steel industry.

Despite the significant rise in raw material prices, RINL ensured sustainable growth in production, sales and techno-economic parameters during 2005-06, he said adding almost all the production units operated over 120 per cent of the rated capacity.

Initiatives by the management had led to enhanced customer focus, strengthening communication and improvement in process management, he added.

Mr Rao informed the panel of judges that RINL was the only steel plant in the country to have received individual ISO certification for Personnel, Finance and Vigilance departments respectivelty.

The CMD said efforts were on to sign a MoU with National Thermal Power Corporation (NTPC) for setting up a 100 MW capacity power plant in VSP based on lean gas, which would be first of its kind in the country.

Investment to the tune of Rs 240 crore made by RINL for laying a pipeline from Godavari to Yeleru canal had not only overcomed the water scarcity but had resulted in providing water security to VSP and Vizag city also, he added.

Earlier, a corporate presentation on RINL's performance during 2005-06 was made to the panel of judges.

UNI