Keeping pace with the fast changing scenario in the steel sector, Rourkela Steel Plant (RSP) has embarked on a major modernisation programme, wherein it will increase production and improve quality of products, its managing director S N Singh said here.
"This will not only increase productivity but also improve the quality of products. It will also raise production of value added products, reduce energy consumption, improve environment and cut down cost of production," he told senior RSP executives and members of the Management Association, Rourkela, yesterday.
Singh said the steel industry has to adopt, adapt and innovate to meet the challenges of globalisation.
Modernisation will establish RSP as an important player in the dynamic steel scenario, apart from unleashing a wave of progress and prosperity in the entire region, Singh said.
On the impact of globalisation, he said it has touched every aspect of the peoples lives and impacted greatly on all industries with a significant effect on the steel industry.
As a result of globalisation, several foreign players had entered the region. They were bringing with them the art of technologies, fresh systems and new practices, Sudhakar Panda, chairman of Orissa Finance Commission said.
