RINL opens stockyard in Gannavaram

14 Aug 2017

After passing through a disquieting phase, the overall steel market looks set to zoom, said Chairman and Managing Director, Rashtriya Ispat Nigam Limited (RINL) P. Madhusudan, here on Wednesday.

Addressing a meeting after inaugurating a new steel stockyard of RINL, the corporate entity of Visakhapatnam Steel Plant, on BB Gudem Road in Gannavaram mandal, Mr. Madhusudan said the Vijayawada segment was crucial for RINL which was keen on extending its services through this stockyard to people of this region.

“This market is very important to us. We record good sales in this area and hope to increase the volume of sales in the days to come. We need to penetrate into the retail segment besides reaching out to project customers,” he said.

He said the aim was to increase RINL’s presence in the Amaravati capital region and its surroundings. This is the second outlet of RINL, after Visakhapatnam, in Andhra Pradesh. He said by setting up the new stockyard, the RINL was trying to create a win-win situation for the company as well as its customers. Mr. Madhusudan said issues such as demonetisation that had adverse impact on the steel market had begun to settle. “Steel consumption will pick up in the second half of the current fiscal. An up cycle is overdue and conditions are conducive,” he emphasised. “RINL expansion is complete. From September, 20-25 % extra material will be available,” he said.

Source-thehindu