State-run Rashtriya Ispat Nigam
Ltd (RINL) was hopeful of a 20-per cent rise in production to
6 million tonne of hot metal, a top company official said on
The long steel maker has also consciously decided to
expand its basket of obtaining key raw material iron-ore of up
to 50 per cent from sources other than NMDC Ltd.
"There is liquidity crunch caused by NBFCs in the last
one and half months. It has induced some impact but that will
"However, we are keeping our target of 6 million tonne
of hot metal this year, a rise of 20 per cent over the
previous year," RINL Chairman and Managing Director P K Rath
said on the sidelines of 'STEELIES India' 2018 Awards.
He said in the next fiscal, the aim is for 7 million
tonne of hot metal production.
"We have already sourced one-third of the requirement
recently from non-NMDC sources and are in constant dialogue
with various sources, be it state-owned entities or private
ones, to maintain adequate supplies," Rath said.
He said RINL was also open to long-term contracts.
The company was under pressure last year, after NMDC
failed to supply the key raw material due to environmental and
royalty-related restrictions resulting in lower production
from existing mines.
Meanwhile, Rath called for greater focus towards raw
material security, as the country vies for 300-million tonne
steel production by 2030-31.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)