Vizag Steel Plant clocks best ever H1 sales of wire rod coils, structurals, value-added steel

Rashtriya Ispat Nigam Ltd (RINL), which operates the Vizag steel plant, clocked its best ever sales of wire rod coils (WRC), structurals (steel variety) and valued-added steel (VAS) in the first six months of 2023-24 (H1) since inception.

The steel plant sold 3.64 lakh tons of WRC, 2.23 lakh tons of structurals and 6.82 lakh tons of VAS, the best-ever sales of these varieties for any April to September period. RINL logged a growth rate of 40 per cent in sales volume at 1.95 million tons and a 25 per cent growth rate in sales turnover at Rs 10,780 crore during H1, 2023-24, compared to the corresponding H1 of 2022-23, said a statement from the steel plant on Friday. The steel plant has also logged its best-ever H1 production of hot metal from blast furnaces 1 & 2 (23 lakh tons), hot metal from blast furnace 2 (12 lakh tons), SBM products (2.86 lakh tons), WRM 2 products (3 lakh tons), products from the structural mill (2.91 lakh tons) and finished steel from expansion units (8.76 lakh tons).

Lauding this impressive performance, RINL CMD Atul Bhatt exuded confidence that the steel plant's workforce will continue to excel and record the best-ever performance in the current fiscal.