The Rashtriya Ispat Nigam Limited (RINL), also called the Visakhapatnam Steel Plant, has achieved a record turnover of Rs 2,508 crores in the month of December 2022. Despite the threats of privatisation, the steel plant has been continuously showing an upward trend in its profits.
The Visakhapatnam Steel Plant Chairman and Managing Directors (CMD), Atul Bhatt, expressed his gratitude and wished for a better 2023. Addressing the media on Tuesday, he said that the RINL has achieved its best turnover since its inception. He added that for the fourth consecutive time, the RINL has been named the ‘National Energy Leader’. In order to meet the requirements of the Indian Railways, the Steel Plant has manufactured more than 2000 LBH wheels. The CMD also said that stabilization works are being carried out at the plant to increase production speed.
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Appreciating the efforts of the Steel Plant staff in meeting all the requirements, the CMD said that nearly Rs. 1,235 crores worth of orders were placed with the RINL on the Government e-Marketplace (GeM). He also added that RINL is the second choice in procurement through the GeM.
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