RINL makes mark in global market;exports to cross 1.3 MT
After an investment of Rs 12,300 crore, increased its capacity to 6.3 MT from three MT and further raised it by 1 MT with the modernisation of blast furnaces and critical facilities by spending Rs 4,000 crore
image for illustrative purpose
Visakhapatnam: RASHTRIYA Ispat Nigam Limited (RINL), which has been listed for 100 per cent disinvestment by the BJP-led NDA Government, is all set to increase its exports to 1.3 million tonne during current fiscal.
The Navratna company, the corporate entity of Visakhapatnam Steel Plant popularly known as Vizag Steel, has set up an exports division to penetrate its presence in the overseas market. It is exporting to the Middle East, South East Asia, Africa and part of China, a company spokesperson told Bizz Buzz on Monday.
In a tweet, the company said "RINL is poised for a quantum jump in exports in FY 2020-21. So far order booking of more than 2 lakh tonne already is in hand in current month. It is looking to end FY with an all-time high figure of 1.3 million tonne export."
In another tweet, it says "these exports are destined for more countries including few new shores and the shipment includes both finished and semi-finished products."
The tweets evoked immediate response on the micro-blogging site from former officiating Chairman-cum-Managing Director of the company P Raychaudhury stating: "Great initiative. Congratulations team RINL. Heartening to see increasing finished steel exports and expanding the geographical reach. Another benchmark set-no looking back. That's the way."
Upendra Behera replying to @RINL_VSP and @SteelMinIndia said "we are the best in every parameter whether it is production, productivity, techno-economics, value added steel or exports. This is Vizag Steel and we are proud to be part of it. Kudos to the RINL team for making another benchmarking in exports."
Reacting to the comments, RINL Director (Commercial) DK Mohany tweeted,"This plan is in line with RINL's current rate of crude steel production of 7MT (million tonne). Matter of pride that at this rate capacity utilisation is almost touching 100 per cent"
Another tweet by Ravi Kumar Tambe said,"This is our potential but many of us have not realised it. Now it is the time to explore our inner strength and utilise it fully."
Ravisundar said,"RINL has the port advantage. And export orders improve the quality awareness with production personnel."
RINL after an investment of Rs 12,300 crore, increased its capacity to 6.3 million tonne from three million tonne and further raised it by one million with the modernisation of blast furnaces and critical facilities by spending Rs 4,000 crore.
Key player
RINL has been recognised as a key player in the segments of bars and rods in the long steel product category. It caters to diverse applications in manufacturing and construction sectors. Vizag Steel's principal products include rebars, wire rods, rounds, structurals, blooms and billets.
The company's capital expenditure during 2019-20was Rs1,408 crore.The turnover was Rs15,819 crore with exports of 0.5 million saleable steel with a growth of 33 per cent and foreign exchange earnings of $209 million.
RINL-Vizag Steel is the first integrated steel plant to be certified for ISO 9001:2015, !SO 14001, ISO 27001 and OHSAS 18001 standards. It is also one of the few companies to be certified for ISO 50001 for its energy management systems.
