RINL targeting 10% output rise this year despite Hudhud: CMD
5 Nov 2014 10:48 PM GMT
Hudhud-hit Rashtriya Ispat Nigam hopes its crude steel production will go up by at least 10 per cent in the current fiscal to over 3.5 million tonnes compared to last year despite 10 days of zero production last month due to the devastating cyclone.
'Swinging into action following the devastating cyclone that hit us on 12 October, production in our plant is now in full swing. We hope to produce a minimum of 10 per cent more than what we did in the last fiscal,' RINL's Chairman and Managing Director P Madhusudan said.
Clocking its highest-ever saleable steel production, the state-owned firm had produced 3.2 MT in the last fiscal and with the projected 10 per cent growth in output, it would be a little over 3.5 MT, which would again create a record of sorts.
The cyclone had hit the operation of the company's lone steel-making facility at Vizag in Andhra Pradesh resulting in a complete halt of production for 10 days last month. However, it started operation in phases after that and now production in all units, including rolling mills has been revived.
The company's crude steel production in the first seven months of the current year was at 1.862 MT compared to 1.774 MT in the corresponding period of the last fiscal, as production was hit last month by the cyclone.'However, the RINL collective is working hard to make up for the shortfall and achieve the target of 10 per cent growth in production for the current fiscal. We will achieve the set target,' Madhusudan said.
'Swinging into action following the devastating cyclone that hit us on 12 October, production in our plant is now in full swing. We hope to produce a minimum of 10 per cent more than what we did in the last fiscal,' RINL's Chairman and Managing Director P Madhusudan said.
Clocking its highest-ever saleable steel production, the state-owned firm had produced 3.2 MT in the last fiscal and with the projected 10 per cent growth in output, it would be a little over 3.5 MT, which would again create a record of sorts.
The cyclone had hit the operation of the company's lone steel-making facility at Vizag in Andhra Pradesh resulting in a complete halt of production for 10 days last month. However, it started operation in phases after that and now production in all units, including rolling mills has been revived.
The company's crude steel production in the first seven months of the current year was at 1.862 MT compared to 1.774 MT in the corresponding period of the last fiscal, as production was hit last month by the cyclone.'However, the RINL collective is working hard to make up for the shortfall and achieve the target of 10 per cent growth in production for the current fiscal. We will achieve the set target,' Madhusudan said.
Next Story
