July 20, 2008

RINL inks MoU with ministry of steel for 2008-09

Rashtriya Ispat Nigam Limited has signed a MOU with ministry of steel for the year 2008-09. Mr RS Pandey secretary steel and Mr PK Bishnoi CMD of RINL signed the MoU on March 19th 2008.

The MOU contains five parts
1. Vision
2. Mission
3. Objectives of RINL
4. Exercise of enhanced autonomy and delegation of financial powers
5. Performance evaluation parameters and targets, commitments and assistance from the government and action Plan for implementation and monitoring of the MOU.

As per the MOU, RINL DURING 2008-09 commits to produce
1. 3.95 million tonnes of hot metal
2. 3.45 million tonnes of liquid steel
3. 3.08 million tonnes of saleable steel

The MoU also incorporates milestones in respect of expansion of the plant capacity, coke oven battery 4, pulverized coal injection and air separation plant, involving an expenditure of INR 2580 crores. Parameters like marketing distribution network, customer satisfaction index and expenditure on corporate social responsibility have also been incorporated. Techno economic parameters like specific energy consumption, specific water consumption, BF productivity, LD converter productivity, labor productivity, etc., which indicate the efficiency of operations, have been included as specific parameters in the performance evaluation criteria of MOU.