RINL News

RINL, the corporate entity of Visakhapatnam Steel Plant, registered an impressive performance in all facets of its operation during 2017-18.  Saleable Steel production up by 17%.  Turnover up by 31%. The growth and performance clearly speak of the commitment and dedication of one and all in the plant, observed Sri P Madhusudan, CMD, RINL while addressing the senior officers on the occasion of the beginning of the new financial year in Ukkunagaram today. He congratulated the entire collective for their remarkable performance in all areas of its operations. The Sales Turnover at over Rs.16,500 crs (Prov) showed a handsome growth of 31% with the Saleable Steel production touching the 4.5 MT mark for the first time.  The company also staged a remarkable turnaround by posting a positive EBIDTA of over Rs.200 crs (Prov). Speaking on the occasion, Sri Madhusudan said that RINL is rightly on the recovery path of turnaround and expressed happiness as the markets seem to be picking up. He mentioned that RINL would reap the benefits of expansion & modernization and earn profits during the current year. Sri Madhusudan said that there is every need to ramp up of volumes and Pulverized Coal Injection (PCI) technology in all the Blast Furnaces which will help reduce reduction of costlier coke consumption to further enhance the bottom-line  during the current year. He mentioned that RINL is going to launch an eco-friendly “e-office” system for faster decision making in a transparent way. Several initiatives like Coastal shipping, RINL presence in North Eastern regions, development of new products help RINL achieve record sales during the year, he added. Sri P Raychaudhury, Director (Commercial), Sri KC Das, Director (Personnel), Sri PK Rath, Director (Operations), EDs, GMs, senior officers, representatives of Steel executive Association, Unions, WIPS, SC&ST association were present on the occasion. Earlier, the Corporate Strategic Management (CSM) Department of RINL in their presentation, highlighted the achievements of RINL during 2017-18 and the challenges, the targets and the outlook for the Company during 2018-19. Production: All the major production units clocked their best ever performances with significant growth, as given below:         Item   Gr (%) Hot Metal .. 17 Liquid Steel .. 19 Finished Steel .. 21 Saleable Steel .. 17 Value Added Steel .. 16 Power Generation .. 28 Significant Achievements: There were many significant achievements during the fiscal, notable among them being: "i""    Consolidation of 6.3 mtpa expansion with many of the new units crossing their rated capacities "i""    Completion of major Modernisation activities "i""    Commissioning of CCM-4 marking the completion of 7.3 mtpa "i""    Foray into Coastal Shipping "i""    Growth in Exports by 65% "i""    Growth in Byproduct Sales by 24%   Techno-Economic Parameters "i""    Focused efforts on technical parameters resulted in marked improvement in techno-economic indices with Labour Productivity improving by 20% and Specific Energy Consumption & Specific Water Consumption reducing by 5% and 4% respectively. "i""    The Labour Productivity of 451 tCS/man-year and the Specific Energy Consumption of 6.05 G.Cal/tCS are the best since inception.  Outlook RINL’s outlook is bright for 2018-19 with targeted production of 6.4 million tons of Hot Metal, 6.3 million tons of Liquid Steel and 5.7 million tons of Saleable Steel; and is all set to achieve the same with all internal controls in place.