Independence Day celebrated at RINL

Visakhapatnam: The RINL-Visakhapatnam Steel Plant joined the nation in celebrating the 72nd Independence Day with patriotic fervour at Ukkunagaram on Wednesday. P Raychaudhury, CMD of RINL, unfurled the National Flag and inspected the guard of honour accorded by the CISF jawans, home guards and school children of Ukkunagaram.

Speaking on the occasion, the CMD stated that the Indian economy has started stabilising from the impact of currency reforms and implementation of GST which would propel the steel demand. The major steel consumption segments such as construction, capital goods, automobiles and energy sector are set to benefit and contribute for a favourable outlook for the Indian steel industry, he said.

“The RINL signed off 2017-18 on a positive note by posting an operating profit of Rs 332 crore after a gap of two years and disclosed that the company has registered a turnaround in the first quarter of the current fiscal posting a net profit and providing the desired momentum to move from strength to strength for a remarkable performance in 2018-19,” Raychaudhury said.

The CMD stressed the key focus areas towards achieving excellence, including augmentation of volumes to leverage economies of scale, improving PCI in blast furnaces to 150 kgs to enable sustainable operations, effective logistics management to develop robust systems for optimising rake retention time and ensuring timely evacuation of finished products.

RINL Directors PC Mohapatra, VV Venugopal Rao and PK Rath, Senior Commandant of CISF Irfan Ahmad and Bindoo Mohapatra, President of Visteel Mahila Samiti were present.