Vizag Steel Q1 sales up 13%

Visakhapatnam Steel Plant (VSP) has registered steel sales of 550,000 tonne, up 13 per cent for the first quarter of the current financial year. The company attributed this to its special drive to expand into the rural market.

The plant's value-added steel production is the highest for any first quarter with a growth of 17 per cent, accounting for nearly 80 per cent of the total saleable steel production, in spite of recessionary trends in the market, a release stated.The proportion of special steel sales in the total saleable steel stood at 82 per cent during the quarter, compared with 77 per cent of the corresponding period last year. The company has 600 rural dealers. The plant recorded a growth of 14 per cent in finished steel production.