The PSU attributed the growth to the several customer-friendly policies put into practice by it and added that impetus was being given to the production of value-added steel
New Delhi: State-run Rashtriya Ispat Nigam Ltd (RINL), or Vizag Steel, has said it is targeting to push its turnover to Rs 25,000 crores in the financial year 2019-20, up from Rs 20,844 crore it registered in the fiscal year 2018-19. In an official statement released by RINL, Chairman and Managing Director (CMD) PK Rath said, “RINL is targeting to achieve a sales turnover of Rs 25,000 crore and saleable steel production of 5.8 million tonnes during FY 2019-20.”
Last fiscal, RINL recorded the highest sales turnover
“The customers had also played a vital role in achieving… highest sales turnover of Rs 20,844 crores during FY 2018-19,” P Raychaudhury, Director (Commercial), RINL said. The public sector undertaking attributed the growth to the several customer-friendly policies put into practice by it and added that impetus was being given to the production of value-added steel during the current year. Raychaudhury also said that RINL is continuously in touch with its customers to strengthen the bond with them.
Focus areas for FY20
“The focus would be given to set up a special agency to sort out the issues, maximum usage of stockyards, improvisation of handling facility and safety of the workers in the stockyards etc during the current year,” he said.
RINL is a Navratna public sector undertaking that produces special steel, including wire rod coils, rounds and billets of different grade and dimensions.