JANUARY 2013 RELEASE

(1)

Rashtriya Ispat Nigam Limited Visakhapatnam Steel Plant

Visakhapatnam

Corporate Communications Department

Media Release

DATE: 01.01.2013

“RINL COLLECTIVE HAVE THE POTENTIALITY TO MEET THE TARGETS &CHALLENGES”

-2013 CRUCIAL YEAR FOR RINL: SRI CHOUDHARY, CMD -THRUST ON COST CONTROL & COST REDUCTION IS NEED OF THE HOUR

Sri AP Choudhary, CMD, RINL-VSP said that integration of new units in the expansion programme and optimization of production is the key challenge before RINL collective in 2013.

I have full confidence on RINL collective that they are committed and will raise to the occasion.

RINL workforce have all the potential to meet the targets and challenges, he added.

Addressing the senior executives on the occasion of New Year at Ukkunagaram today, Sri Choudhary urged the employees to contribute towards growth levels and infuse confidence among the stake holders. He expressed happiness over the improved performance of plant during the last two months which gives hope and confidence that RINL would meet its MOU targets in the current fiscal. Sri Choudhary reiterated that setting up of Seem Less Tube Mill, Axle and Wheel Manufacturing Plant are very much essential as a major diversification of its business, since RINL is going to add 500 mm dia Caster in its expansion. This facility will not only capture the niche market but improve the bottom line of the organization, he added.

Sri Choudhary released the “ 2013 New Year Calendar and Dairy” brought out by the Corporate Communications Department on this occasion in the presence of Sri Umesh Chandra, Director (Operations), Sri P Madhusudan, Director (Finance), Sri TK Chand, Director (Commercial), Sri YR Reddy, Director (Personnel), Sri NS Rao, Director (Projects) and Sri B Siddhartha Kumar, IFS, CVO.

Speaking on the occasion, Sri Umesh Chandra said several innovations are being implemented in the operations of expansion programme and efforts are on to reduce the cost of production which will lead to enhance the bottom line. He urged all the employees to come forward to take the company to newer heights.

PDF created with pdfFactory trial version www.pdffactory.com

(2)

Sri P Madhusudan, Director (Finance) said that cost control measures, thrust on savings and reducing the inventory are the need of the hour to improve the bottom line which is very crucial for the organization at this juncture. He said that RINL made good progress in raw material securitization. He informed that the Rajasthan government has recommended 1000 hectares for mining lease to RINL and the application is forwarded to Government of India.

More grit, more determination and better application are the mantra for success of the organization, he added.

Sri TK Chand, Director (Commercial) said that steel market will shine in the new year with picking up of economy, sobering down of inflation and possible reduction of CRR/ repo rate . RINL will definitely achieve the targets and consolidate its position in the market and added that during April-December’12, RINL achieved a turn over of around Rs.9000 crores.

Sri YR Reddy, Director (Personnel) stressed the need to inculcate discipline and work to achieve the targets set for growth of the organization. He said that several initiatives were taken towards the welfare of the employees and urged the employees to work with deep sense of commitment.

Sri NS Rao, Director (Projects) said that most of the new units in the expansion are commissioned and the Blast Furnace 3 is producing hot metal with 50-60% rated capacity and added that trial runs of New Sinter Plant -2 and Turbo Blower- 6 will commence from tomorrow. He said that feasibility report for the next phase of expansion to 12 mtpa has been prepared.

Sri B Siddhartha Kumar, IFS, CVO highlighted the need to use IT tools for transparency in administration which helps to enhance the efficiency of the organization.

Trade Union leaders S/Sri N Rama Rao, D Adinarayana, Mantri Raj Sekhar, Ayodya Ram, V Srinivasa Rao, Steel Executive Association President Sri Satyanarayana and Secretary Sri TKSR Tagore, Sri Deena Manasu, President, SC & ST Association etc participated.

Corporate Strategic Management department gave a presentation highlighting the achievements and challenges before RINL in the new year.

Senior officers, representatives of Steel Executive Association, Unions, SC&ST associations and large number of employees attended the meeting.

MASS TREE PLANTATION DRIVE BEGINS IN CONSTRUCTION ZONE ON THE EVE OF NEW YEAR As a part of RINLs core value i.e “Concern for Environment” saplings were planted in the construction zones of Rolling Mills, Steel Melt Shop and Thermal Power Plant on this new years day. Sri AP Choudhary, CMD launched mass tree plantation in the New Rolling Mills Zone by

(3)

planting a tree. Sri Umesh Chandra, Director (Operations), Sri P Madhusudan, Director (Finance), Sri TK Chand, Director (Commercial), Sri YR Reddy, Director (Personnel), Sri NS Rao, Director (Projects) and Sri B Siddhartha Kumar, IFS, CVOEDs, senior officers and contract workers participated in the plantation drive.

BS Satyendra Asst General Manager (CC)

(4)