Indian state-run
steelmaking and mining company Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel, has announced that it registered a sales turnover of INR 135.3 billion ($2.24 billion) in the financial year 2013-14 ending March 31, up 25 percent year on year. The value of the company's exports in the given period amounted to INR 7.5 billion ($124.5 million).
RINL managing director Sri P. Madhusudan said that the company achieved significant results in the financial year 2013-14 despite sluggish market conditions. During the given period, RINL increased its liquid steel output by four percent to 3.4 million mt, while its finished steel output amounted to 3.01 million mt.
Sri Madhusudan pointed out that cost control is also an important factor and there is an urgent need to spread cost consciousness across the organization, stressing the need for early commissioning of pulverized coal injection in blast furnaces for cost optimization and to increase productivity.