P Raychaudhury has been assigned as the chairman cum managing Director (In- charge) of RINL

P Raychaudhury, Director (Commercial) Rashtriya Ispat Nigam Limited (RINL) has been assigned as the chairman cum managing Director (In- charge) of state owned steel company with effect from June 1, 2018 a communique from the union steel ministry said on Thursday.

He will be discharging the duties of the CMD in place of P Madhusudan who took over as CMD of RINL in January 1, 2014 and superannuated from service on May 31, 2018.

RINL, the corporate entity of the Visakhapatnam Steel Plant, has plans to expand its capacity from 7.3 million tonne to about 12 million tonne per annum at an estimated cost of around Rs 20,000 crore. However, the company is yet to finalise the timeline for its capacity expansion plans.


Interestingly, work related to housing and development of the new capital of Andhra Pradesh at Amaravati has led also to a surge in steel demand with RINL catering to the needs of building and construction sector.

The company registered a 31% jump in turnover at over Rs 16,500 crore (provisional) in 2017-18 over 2016-17. It posted a 21% increase in sales volume to 4.48 million tonne during the fiscal FY18 compared to FY17, registering its highest-ever sales since inception.