RINL targets 4.4pc jump in turnover in FY08

New Delhi, Mar 27: The Rashtriya Ispat Nigam Ltd (RINL) today signed an MoU with the government envisaging a 4.4 per cent rise in turnover to Rs 9,136 crore during 2007-08, as against the expected figure of Rs 8,749 crore this fiscal.

RINL targets to produce 4.1 million tonnes (MT) of hot metal and 3.21 million metric tonnes (MMT) of saleable steel during the next financial year, at 121 per cent capacity utilisation.

The MoU was signed by RINL Chairman Y S S Rao and Steel Secretary R S Pandey here.

The Visakhapatnam-based integrated steel plant is expected to surpass the gross margin of Rs 2,112 crore during the current year.

It is presently implementing an expansion plan to increase its liquid steel capacity to 6.3 MT per annum at an estimated cost of Rs 8,692 crore.

UNI