[ad_1]
VISAKHAPATNAM: The Visakhapatnam Steel Plant (VSP) recorded a sales turnover of more than Rs 18,000 crore this fiscal, the second highest since its inception, and grew by 13%. The plant’s sales volumes reached 4.45 million tonnes with a growth of four per cent. VSP registered a net profit of Rs 740 crore in the last four months.
The steel plant achieved a sales turnover of Rs 3,300 crore and sales volume of 7.11 lakh tonnes in March, the highest in the history of the company. This was a whopping 42% more than the plant’s previous best of Rs 2,329 crore in March 2019.
The sale of steel fetched the plant Rs 17.95 crore, pig iron Rs 297.34 crore and by-products Rs 519 crore. The plant achieved export sales of 1.3 million tonnes, 261% higher than the previous year. Further, 35 out of 57 ocean export contracts were finalised with 100% advance payment terms, said VSP CMD PK Rath.
Addressing senior officials of the company, the CMD said that the forged wheel plant at Raebareli is expected to start production from the first week of this month. He called upon employees to focus on increase in PCI in all three furnaces, cost optimisation in all areas and utilisation of waste.
He also asked employees to focus on innovative ways of cash management, sustaining production from expansion units, ensuring raw material security and capturing niche markets. Workers unions demanded that the government allot captive mines to the steel plant.
[ad_2]
Source link
