Our Network sites: VizagClassifieds.com - VizagInfo.com - GajuwakaInfo.com
VizagNews.com
You are here home / archives / june 2004 / Vizag Steel Plant reports record profits for the second consecutive year Search / Comments
Visakhapatnam Steel Plant
In Recent News News

Russian Ambassador visits Steel Plant
Holds discussions with VSP officials

VSP celebrates RINL Formation Day
VSP CMD speaks on ambitious growth plan

VSP bags Award in National conference on e-Governance
Union Minister presents award

Steel Plant registers Rs.1,062 crore sales turnover
Largest turnover since inception of the plant

RINL ties up with SAIL
MoU for acquisition of high-grade limestone

Visakhapatnam Steel Plant bags sustainability award for 2006-07
Director (Operations) PK Mishra receives the award

Visakhapatnam Steel Plant CMD awarded Gold Medal
Prime Minister, Manmohan Singh handed over at 95th ISC

Roof of a madapam under construction caved in
Laborers dies, 16 others injured

RINL and NTPC bags CII awards
Visakhapatnam Industries continues to gain national attention

Commercial Taxes Department issues order to freeze the VSP bank accounts
Claims VSP is due to pay Rs.500 crores

VSP employees to get Rs.14,000 as bonus
Agreement reached at a tripartite meeting

VSP bags four Vishwakarma Rashtriya Puraskars
Awards meant in innovative suggestions in steel-related techniques

VSP signs MoU with BHEL for power expansion
Order worth over Rs. 394 crores

All VSP News Archives

City Connection
Recent News Headlines

APCO registers record sales
Weavers’ corporative generates a revenue of Rs.1.5 crore

Building collapse at Daba Gardens claims 2
18 injured; Rescue operations initiated; Minister promises support

Two software employees drowned in Vizag beach
Two local youth who went for rescue missing

Recruitment rally for the posts of group (x) technical trades
Indian Air Force recruitments

APCO Fabrics Designer Collection showroom inaugurated
APSCO registers turnover of Rs. 138 crore

Distribution of ration cards from December 1
Applications for fresh cards to be accepted up to end of this month

Employee strike hits official machinery
Most Government offices including Collectorate looked deserted

Nationwide strike on Tuesday
NGOs and Teachers squat at Collectorate and Mandal offices to highlight their demands

The Hindu - Eenadu Lifestyle Show at AU College Grounds
Show to feature wide range of products on display

Photo and Stamp Exhibitions and pledges mark Mahatma Birth Anniversary
City reminds itself of teachings of Mahatma Gandhi

Vizag Steel Plant reports record profits for the second consecutive year
Visakhapatnam, June 21, 2004

The Vizag Steel Plant reported a record net profit of Rs 1,547 crores and a cash profit at Rs 2,023 crores ending March 31, 2004. Vizag Steel Plant has been running loss for quiet some time now before its dynamic Chairman BK Panda took over. This is the second consecutive year since the plant started running in positive numbers. The Chairman attributes the growing figures to the favorable changes in the International steel market.

The Chairman said that the Steel Plant will be going for an expansion from its current capacity of 3 million tonnes to 5 million tonnes by 2007. Vizag Steel is aiming for a total of 10 million tonnes capacity by 2018. The cost of this expansion drive will cost the company Rs. 3000 millions with Rs. 2400 millions being met on its own while the remaining Rs. 600 millions required for building the Oxygen plant will be met on the basis of built-operate-transfer (BOT) basis.

BK Panda said, "We will go for the latest technology for the development of steel in the expanded projects. A strategic management group has been put in place for knowledge and technological managements through right decisions"

'We import 90 per cent of our coal requirements and balance 3.5 lakh tonnes from government. Also, for the phased expansion of capacity we are depending for one billion standarard cubic metric of gas in a year from ONGC and Gujarat Petrochemicals,' he added.

© 2000-2010 VizagInfo.com. All Rights Reserved.
Contact Us ~ Our Services ~ Disclaimer