RINL achieves high sales turnover

Visakhapatnam, Aug 28: The Rashtriya Ispat Nigam Limited (RINL), the holding company of Visakhapatnam Steel Plant (VSP) has achieved an all-time record sales turnover of Rs 10,433 crore during the financial year 2007-08.

Informing this at the 26th Annual General Meeting and attened by shareholders here yesterday, RINL Chairman-cum-Managing Director P K Bishnoi said 2007-08 has been a satisfactory year for the company as it consolidated its position further.

Stating that RINL had orders worth Rs 8,939 crore, he said the company had sufficient resources for carrying out expansion which would be completed by 2010-11.

The production of value-added steel crossed an all-time high at 18,94,098 tonnes, a 74 per cent growth over the previous year, which enabled the company to sustain the higher sales turnover, he said adding the company was continuing its thrust by widening its Rural Distribution network to reach out new customers across the country.

UNI