Visakhapatnam Steel Plant turns profit
The plant's credit rating has also improved
Visakhapatnam : The Vizag Steel Plant, also known as Rashtriya Ispat Nigam Limited (RINL), has turned a corner and is now on the path to profitability. The plant has achieved a remarkable turnaround in just over a year, with a capacity utilisation of 94% and a profit of Rs. 54 crores in January 2026.
Chief Minister Chandrababu Naidu reviewed the progress of the plant on Tuesday, along with Union Steel Ministry Secretary Sandeep, RINL CMD Manish Raj Gupta, chief secretary K Vijayanand and other senior officials at secretariat in Amaravati.The plant has been able to increase its hot metal production to 19,401 tonnes per day, up from 9,215 tonnes per day in the second quarter of 2024-25.
The plant's turnaround is attributed to the support from the central and state governments, as well as the hard work of employees and officers. The state government has provided assistance in areas such as taxes, electricity bills, and water supply, while the central government has provided a financial package of Rs. 11,440 crores.
Speaking on the occasion, CM Naidu said that the plant's success is a result of the collective efforts of all stakeholders, including employees, officers, and the government. He directed officials to introduce new policies and practices to further strengthen the plant and increase its production capacity.
The plant's credit rating has also improved, reflecting its improved financial health. The Chief Minister urged officials to continue working together to take the plant to greater heights.
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