RINL eyes Rs20,000 cr sales target in FY14-15

Visakhapatnam Steel Plant aims to achieve a sales turnover of Rs20,000 crore during the 2014-15 period. Confirming the company’s decision, P Madhusudha, Chairman and Managing Director said, “The company targets to acquire a turnover of about Rs20,000 crore in FY14-15 and will progressively increase to Rs30,000 crore by FY16-17.”

According to TK Chand, Director (Commercial), the fiscal 2014-15 will be a turnaround year for the steel industry and RINL remains optimistic to achieve a strong growth in its sales performance. “RINL’s contribution in exports has helped India to become a net explorer of steel,” added Chand.

The steel major has given a major focus on exports, particularly to the Gulf and African countries due to freight advantage.