RINL launches zero demurrage campaign to achieve turnaround
The initiative underscores the organisation’s resolve to enhance productivity, improve operational efficiency, and secure a brighter future for RINL-VSP
Visakhapatnam: In a concerted move towards enhancing operational efficiency and reducing expenditure, the leadership of Rashtriya Ispat Nigam LImited (RINL), the corporate entity of Visakhapatnam Steel Plant, has launched a ‘zero demurrage’ on Monday.
As part of the campaign, a zero demurrage pledge was administered at the ED (Works) Conference Hall under the leadership of Atul Bhatt, CMD, RINL, along with GVN Prasad, Director (Commercial), senior officials and representatives of various trade unions.
Recognising the significant challenges and financial impacts associated with higher Rake Retention Time (RRT), the pledge was administered to reinforce the commitment of all participants for reducing RRT and achieving zero demurrage. The initiative underscores the organisation’s resolve to enhance productivity, improve operational efficiency, and secure a brighter future for RINL-VSP.
Bhatt emphasised the critical importance of the zero demurrage campaign. He stated, “The financial implications of demurrage are substantial, and it is imperative that we address this issue with utmost seriousness.
By pledging today, we are not only committing ourselves to a critical target but also fostering a culture of accountability, trust, and collaboration within our organization.”
The CMD exhorted the RINL collective to put in concerted and dedicated efforts towards reducing the fixed cost, reducing the variable cost and increasing the production to achieve cash profits for the company.
Zero demurrage campaign by the RINL collective is the first step by the management in its efforts to march towards profitability, Bhatt remarked. Giving an overview of the RINL’s present situation to the senior officials and trade union representatives, the CMD said that a turnaround plan has been chalked out as part of which production will be maximized from two blast furnaces to ramp up the production.
“RINL has the best human resources and a committed workforce and I am sure that with collective efforts from all, RINL will soon be marching towards cash profit,” Bhatt said.
