RINL rings in New Year with ambitious plans

In a vibrant New Year celebration, Atul Bhatt, Chairman and Managing Director (CMD) of Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant set an optimistic tone for the upcoming year as he addressed senior executives, employees, and stakeholders. Expressing unwavering confidence, Bhatt declared, “I am confident that 2024 would be a very promising year for RINL.” He acknowledged the potential and dedication of the employees, urging them to unite and collaborate to make 2024 a transformative year for the organisation.
Extending New Year greetings to all, Atul Bhatt outlined the company’s robust turnaround plan, emphasising the critical need to address technical bottlenecks, financial challenges, working capital issues, debt reduction strategies, raw material linkages, and the goal of achieving 100 per cent production capacity utilisation. Bhatt lauded the RINL team and sought the support of the workforce, unions, and business associates to make 2024 a turnaround year. Expressing gratitude to the Union Steel Minister, Steel Ministry, and the entire RINL workforce for their steadfast support, he emphasised the collective effort required for success.
Later in the evening, Atul Bhatt, accompanied by other dignitaries, unveiled the trilingual annual in-house newsletter Ukkuvani, showcasing major events, achievements, and highlights from 2023. Additionally, a Field Book (Notepad) and a calendar, crafted and published by the Corporate Communications department, were also revealed.
RINL’s impressive performance from April to December 2023 was highlighted by the corporate strategic management department through a powerful presentation. The organization achieved a sales turnover of Rs. 16,766 crore, recording a remarkable 21per cent growth in sales volume, 23 per cent in domestic sales, and an impressive 47 per cent increase in the sale of value-added steel. On the production front, RINL’s crude steel production surpassed the 100 Mt milestone since its inception in June 2023, while Hot metal production from BF-2 crossed the 50 Mt mark on October 25. The Converter Lining life of 9,266 heats from Converter-D of SMS-2 was recognised as the best since inception.
Joined by DK Mohanty, Director (Commercial), Dr. SC Pandey, Director (Personnel) with additional charge as Director (Finance), and A.M. Haneef, Commandant, CISF, Atul Bhatt, along with the dignitaries, marked the occasion by cutting a cake, symbolising the commencement of the New Year celebrations. The event signifies not just a new year but a promising chapter for RINL, filled with optimism, unity, and ambitious plans for growth and success.