Who is the owner of Vizag Steel Plant?
Rashtriya Ispat Nigam
Visakhapatnam Steel Plant is the integrated steel plants of Rashtriya Ispat Nigam Limited in Visakhapatnam….Visakhapatnam Steel Plant.
| Type | Public Sector Undertaking |
|---|---|
| Key people | Atul Bhatt, CMD |
| Products | Forged Rounds re-bars Rounds Wire rods Coil Structurals |
| Owner | Rashtriya Ispat Nigam |
| Website | www.vizagsteel.com |
How many employees are working in Vizag steel plant?
There are around 17,000 permanent employees in the RINL, besides another 16,000 contractual workers. Another 40,000 people are dependent on the steel plant indirectly in the form of allied activities.
Is Vizag Steel Plant a Navaratna?
Rashtriya Ispat Nigam Limited, the corporate entity of Visakhapatnam Steel Plant is a Navaratna PSE under the Ministry of Steel. Visakhapatnam Steel Plant fondly called Vizag steel. It is the first shore based Integrated Steel Plant in the country and is known for its quality products delighting the customers.
Will Vizag Steel be Privatised?
“A decision was taken to privatise Visakhapatnam Steel Plant (VSP) after a thorough discussion and evaluation.
Is Vizag Steel going to be Privatised?
Is Vizag steel plant running in loss?
It reported a loss of ₹1,604 crore in 2015-16, ₹1,263 crore in 2016-17 and ₹1,369 crore in 2017-18. The company made a profit of ₹96.7 crore in 2018-19 but plunged into a huge loss of ₹3,319 crore in 2019-20. Besides, the RINL is also facing a huge debt burden of ₹22,000 crore, which is being serviced at 14 per cent.
Why is Vizag Steel Plant Privatized?
“The government is planning to privatise the steel plant on the pretext that it has accumulated losses of around ₹22,000 crore. This loss is nothing before the total asset value of the company, which stands at ₹3 lakh crore,” Ramu said.
What is TMT grade?
TMT bar manufacturers in India manufacture four different grades of TMT bars – Fe-415, Fe-500, Fe-550, and Fe-600. The numbers indicate the level of stress that must be applied to deform it and higher the grade, the stronger and superior the bar is. The grades are given according to their strength and rigidity.
Which city is called as Steel City?
Jamshedpur
Jamshedpur: The city of steel.
Why choose Visakhapatnam Steel Plant?
Visakhapatnam Steel Plant fondly called Vizag steel. It is the first shore based Integrated Steel Plant in the country and is known for its quality products delighting the customers. It is a market leader in long products and it caters to the needs of diverse Industrial sectors.
What is the turnover of the Vizag Steel Plant?
Vizag Steel Plant is the only Indian shore-based steel plant and is situated on 33,000 acres (13,000 ha), and is poised to expand to produce up to 20 MT in a single campus. Turnover in 2011-2012 was Rs 14,457 crores.
Why it is the first shore based integrated steel plant?
It is the first shore based Integrated Steel Plant in the country and is known for its quality products delighting the customers. It is a market leader in long products and it caters to the needs of diverse Industrial sectors.
What is the current status of Tata Steel’s Pune expansion project?
The expansion project is expected to become functional by 2012. Currently, the steel plant has completed the expansion from 3.6 MT to 6.3 MT with a total investment of Rs.12,300 crore. The company has planned to expand its production capacity further by one more MT which requires an investment of Rs.4,500 crore.