RINL's performance in 2006-07 impressive

Visakhapatnam, Apr 5 (UNI) The Rashtiya Ispat Nigam Limited (RINL) run Visakhapatnam Steel Plant (VSP) Chairman and Managing Director Y Sivasagarm Rao today said the company has performed excellently during 2006-07, breaking its previous records in sales turnover and production with consistently high capacity utilisaztion.

Addressing a press conference here, he said the production performance during the financial year was the 'best' since its inception.

In the major areas of liquid steel production it achieved 3.61 million tonnes while the saleable steel production and finished steel production was 3.29 million tonnes and 3.01 milllion tonnes respectively. The value-added production was 1.09 million tonnes, he informed.

RINL recorded the best-ever sales turnover of Rs 9,126 crore with a growth of 8 per cent over the corresponding period last year. The emphasis on sale of value-added products, paid rich dividends in getting better sales realization. Altogether 1.1 million tonnes of value-added steel products were sold achieving a growth of 20 per cent over last year.

The profit before tax was provisionally expected to be Rs 2,246 crore. For the 6.3 million tonnes stage expansion, contracts worth Rs 3,500 crore have been awarded. Piling, civil and structural works were in progress, he informed.

UNI