The sales turn-over
of the Vizag Steel Plant, (VSP) of the Rashtriya Ispat Nigam Limited
(RINL), a public sector unit of the Steel Ministry, during the
first half of this fiscal, has gone up to Rs. 2032 crore from
Rs.1803 crore during the first half of 2001-02, showing an increase
of 13 per cent. It has continued its improved performance of the
first quarter during July-September, 2002. This information was
given by the acting CMD of RINL Shri B.K. Singh, in the H1 review
meeting taken by the Minister for Steel, Shri Braja Kishore Tripathy
here today.
Shri Singh said that
the techno-economic indices of the second quarter has been best
since inception. During July-September, VSP has achieved cash
profit of Rs.169 crore and a net profit of Rs.57 crore. He drew
the attention of the Ministry to the water shortage, the plant
is going to face during the coming months. By February 2003 there
would be necessity to pump water from Yelosoram Dam to the Yeleru
Canal to feed water to the plant.
The Minister asked
the Plant authorities to take up the issue at Board level and
with the State Government and to prepare a road map with line
of action, so that it could be pursued in the higher level. He
desired to solve the problem on a permanent basis. The Minister
also asked the Company to be more vigilant to face the deregulated
competitive market.
