Visakhapatnam, September 25, 2006
Annual General Body Meeting held
The Visakhapatnam Steel Plant (VSP) has achieved a record sales turnover of Rs. 8482 crore and Rs. 1253 crore net profit for the financial year 2005-06. The Annual General Body meeting was held on Monday and company’s audited annual accounts for the said period were adopted.
Speaking on the occasion, the Chairman and Managing Director of VSP Y Siva Sagar Rao said that the Company was conferred with Mini Ratna status in May. He further said that the VSP has signed a MoU with M/s MOIL recently for ferro-alloys and NMDC for iron ore pellets. Mahal coking cola block with an estimated reserve of 258 million tons was allotted to the Steel Plant. He further said that the corporate plan was under finalization stage.
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