Visakhapatnam Steel Plant (VSP) and the ministry of steel have entered into an MoU for the year 2003-04. The steel plant committed to produce 2.9 million tonnes of saleable steel in 2003-04, which represents a capacity utilisation of 109 per cent and a growth of 8 per cent over the target for the last year 2002-03.
VSP also committed to produce 5 lakh tonnes of value-added steel products. In the MoU greater thrust is given to techno-economic parameters like BF grade coke rate, BF productivity, special refractory consumption, special energy consumption, special water consumption and labour productivity.
This is the ninth successive year of signing of MoU. JS Gill, a secretary in the ministry, and BK Singh, the acting CMD of VSP, inked the MoU on Monday in New Delhi.
