Vizag Steel Plant logs highest ever monthly sales of value-added steel in August

Visakhapatnam: Rashtriya Ispat Nigam Ltd (RINL) or Vizag Steel Plant logged its best ever monthly sales of value-added steel products in August since inception at 1.57 lakh tonne, said an official on Saturday.

In August, the steel plant sold 99,000 tonne of rounds (steel variety), which is the best ever sales milestone for this variety, and also logged similar performances in the sale of wire rod coils (79,000 tonne), rebars (2 lakh tonne) and structurals (46,000 tonne).

"The sales volume of 1,57,000 tonne of value-added steel achieved in August 2023 by RINL is the best ever monthly sales of value-added steel sales for any month since inception," said the official in a press release. Including value-added steel products, Vizag Steel Plant achieved overall sales of Rs 2,502 crore in August 2023, which is 39 per cent higher than Rs 1,806 crore logged in the corresponding period last year.

Besides August highlights, the steel plant located in the port city of Visakhapatnam achieved the highest cumulative sales volume of value-added steel products for the five-month period of April-August of the current financial year at 5.57 lakh tonne, the release said.