The Rashtriya Ispat Nigam Limited also known as Vizag Steel, which has been on an aggressive expansion spree, claims that it would cross the 5 MnT hot metal production mark in FY 17-18.
While speaking to SteelMint company officials informed that for FY 2017 RINL is poised to churn out above 5 million tonnes of hot metal which would account for about 4.8 MnT of liquid steel. The total sellable steel would be around 4.4 MnT in the FY 17.
Further, the company estimates a turnover of about 16000 crore which would be about 35 per cent more than the previous year. Similarly the company plans to further push production to 6.3 MnT of hot metal in FY 18-19.
Chairman and Managing Director of RINL P Madhusudan also asserted these claims while speaking to a few media persons recently, on the sidelines of a dealers’ conference held at Vijayawada.
It may be noted here that RINL has augmented its capacity from 3 mnt to 6.3 mnt at the cost of Rs 12,000 cr in 2017. Through revamping the installed plant and machinery RINL further took it name plate capacity up to 7.3 mnt through brownfield projects at the cost of around Rs 4000 cr.
The company installed PCI (Pulverised Coal Injection) technology and upgraded other plant and machinery to achieve the increase in capacity.
The projects have finally been completed in the beginning of 2018 and the increase in production would begin to reflect in a couple of months. With the increased production RINL would be able to further cement its place as one the country’s largest steel producers.
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