RINL focuses on domestic sales

RINL focuses on domestic sales

Indian steel producer Rashtriya Ispat Nigam Ltd (RINL) announced that in line with the government measures to increase domestic availability of steel the company had shifted its focus to domestic sales rather than exports during the 2004/2005 fiscal year. RINL set a sales target of Rupees 75 billion ($1.7 billion) for the current fiscal year, including Rupees 2.5-3 billion ($57-68 million) in exports. Company officials indicated that even though they reduced exports to ensure steel availability in the domestic market, domestic sales were sufficient to improve the company's performance. RINL expects its hot metal production to amount to 3.9 million tons, liquid steel to 3.55 million tons, value-added steel to 850'000 tons and saleable steel to 3.1 million tons in the current fiscal year.