VSP APRIL-AUGUST SALES CROSS RS.
2000 CRORE
Vishakhapatnam
Steel Plant (VSP) of Rashtriya Ispat Nigam Limited (RINL), a public
sector unit of the Ministry of Steel has recorded the sales turnover
of Rs. 2127 crore during April-August, 2003 representing a growth
of 27 per cent over the same period last year. The sales turnover
during this period last year was Rs. 1670 crore. The domestic
sales increased by 28 per cent and the exports were up by 20 per
cent during these five months. The sales for the first time crossed
Rs. 2000 crore mark during the period since inception. It also
posted best sales turnover of Rs. 550 crore in August 2003 with
a growth of 59 per cent over Rs. 345 crore achieved during August
2002. It is also the best ever sales for any August since inception.
The plant produced
1.70 million tonnes of hot metal and 1.46 million tonnes of liquid
steel with a growth of 6 per cent each during this period. Production
of 1.28 million tonnes of saleable steel during April-August recorded
a growth of 5 per cent over the corresponding period last year.
It also achieved the best ever performance in hot metal, liquid
steel, cast blooms wire rods and finished steel production in
the month of August since inception. The plant produced nearly
57,000 tonnes of value added items and achieved the best techno-economic
performances for any August since inception.
Out of Rs. 773
crore of term loans and bonds outstanding as on April 2003, the
plant has paid Rs. 623 crore ahead of schedule and Rs. 50 crore
was paid as per schedule from internal resources. It plans to
pay the balance Rs. 100 crore by end of September, 2003 as per
schedule. Thus VSP will be free from long -term debts by October
2003.
