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Steel Industry in India Showing Signs of Improvement – RINL CMD

Release time：Jan 02, 2020 From：admin

RINL-VSP CMD Mr PK Rath observed that the steel industry is showing signs of improvement in the country with the introduction of Government’s new initiatives in boosting the spending on infra, construction and auto sector. Mr Rath pointed out that many steel companies in the world are under severe stress during 2019 and the rise in raw material prices like coking coal and Iron ore severely impacted the entire steel industry bottom-line and RINL is also no exception to this development.

Mr Rath said “RINL leadership has taken several new initiatives to face the challenges and even with lower production, achieved improvement in techno-economic parameters such as improvement of BF productivity, usage of PCI in all the blast furnaces etc. Improving PCI to around 150 kg/ton hot metal in Q4 would reduce the cost of production and improve the BF productivity.”

Mr Rath said “RINL achieved a sales turn over of INR 12,700 crores during April-December 2019 despite turbulent market scenario. The exports achieved a growth of 119% and the sale of value added steel has also seen a growth of 79%. The inventory level was brought down to below 4 lakh tons by December end”

In INR Crores

While the Centre and the states will equally split 78% of the proposed investments, the remaining 22% will come from the private sector with non-government participation expected to increase in the coming years. The mega investment plan will see the Centre’s capital outlay for infrastructure almost treble from an estimated INR 3.5 lakh crore in 2018-19 to close to INR 10 lakh crore by 2024-25. Similarly, budgetary allocation is projected to increase from INR 1.4 lakh crore to over INR 4 lakh crore during the same period.

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