RINL targets 11.3 mt steel production capacity in current fiscal

Rashtriya Ispat Nigam has set a target to raise steel production capacity to 11.3 metric tons and a sales turnover of ₹25,000 crore for the current fiscal, as against ₹20,000 crore achieved last year. CMD, PK Rath, revealed in a media statement that the capacity of the steel plant had been enhanced from 3 mt to 6.3 mt and with modernization of the plant another one mt will be added, taking the total to 7.3 mt. In the next phase, 4 mt would be added, taking the total capacity to 11.3 mt per annum. So far, the company has produced long products and in the next phase it wants to diversify into flats as well and make greater inroads into the market. The first step is to consolidate and stabilize production at the 7.3 mt level and then fast track expansion in the next phase. According to Rath, production of 7.3 mt will require about 10 mt of ore, which the NMDC would provide; the company is also trying to source the ore from Odisha through OMDC and get more captive iron ore mines on a long term basis.