Vizag steel records 7 per cent rise in hot metal during Q1

KOLKATA: RINL, which runs the Vizag steel plant, recorded a growth of 7 per cent in hot metal and 6 per cent in liquid steel production during the first quarter of the current year. During the same period, production of saleable steel and iron registered a growth of 2 per cent over previous corresponding period.

In terms of financials, RINL registered a 16 per cent rise in its turnover to Rs 3,000 crore in the first quarter. The growth in turnover was supported by 20 per cent improvement in project sales, 42 per cent improvement in by-product sales and also an improvement in value added steel sales during the quarter.

On the techno-economic front, RINL achieved a 22 per cent reduction in water consumption through a series of water conversation measures.

Reacting to Q1 performance, A P Choudhary, chairman and manging director of the company complimented the RINL collective for achieving the growth in both turnover and production. He said the growth in the first quarter will set the tone for further growth in subsequent quarters of the current financial year 2012-13.