Less than a month from the Prime Minister's scheduled inauguration of RINL's new facility, Steel and Mines Minister Narendra Singh Tomar today expressed concern on the delay and cost over runs in the PSU's expansion and modernisation programme.
Prime Minister Narendra Modi is expected to inaugurate the expanded steel facility of RINL's Vizag plant in the first half of July.
Tomar today visited RINL to review the performance of the steel plant, an official statement said.
"While reviewing the progress of modernisation and expansion, the Minister expressed concern over time and cost over runs and advised to conduct root cause analysis so that lapse, lack of foresight and other reasons could be pinpointed for avoidance in future," the statement added.
The statement quoted Tomar saying that loss of time and money would be more damaging if the units are not stabilised after commissioning at the earliest.
"Tomar remarked that modernisation, expansion, cost reduction and energy savings must be reflected in the profitability. He said that visit of Prime Minister will be a proud occasion for all of us and we must make it memorable for times to come," the statement further said.
RINL Chairman and Managing Director P Madhusudan assured the Minister of quick action on his observations.
Tomar was also apprised of the arrangements being made for the ensuing Prime Minister's visit to RINL to dedicate the 6.3 million tonnes per annum (MTPA) expansion to the nation in the month of July, the statement said.
