State-owned steel maker Rashtriya Ispat Nigam (RINL) today said it's aiming to produce 4.1 million tonne of saleable steel for the current fiscal.
"We are targeting a saleable steel production of 4.1 million tonne in FY16, up from 3 million tonne in 2014-15," RINL chairman and managing director P Madhusudan said here today at MCC Chamber of Commerce and Industry.
He said the production is planned after taking into consideration the closure of its blast furnace at the old plant.
RINL will be able to produce more after commissioning the greenfield expansion, which aims to take the hot metal capacity to 6.3 million tonne from the 3 million tonne earlier.
"With the completion of expansion and modernisation of the existing old plant, our hot metal and saleable steel capacity will go up to 7.3 million tonne and 6.5 million tonne, respectively, by 2017-18," Madhusudan said.
He expects the steel industry to get better in the next 3-4 quarters.
He is hopeful of some government action to curb steel import.
