Mr PK Bishnoi CMD of Rashtriya Ispat Nigam Limited while addressing the huge gathering of VSP employees and their family members for celebrating 62nd Republic Day called upon the collective of RINL to focus on innovative strategies to generate adequate surpluses to meet the growth chartered for RINL and what is presently required, is the will to achieve with a positive mind set to lead the race against the backdrop of steep hike of raw material prices.
He said that “Year 2011, is going to be the most significant year for the company as most of the expansion units would come on stream to realise the benefits quickly and improve the bottom line. Some of the modernisation plans of the Company will also fall in place and therefore, the task ahead is uphill, demanding stretch of our canvas of work with utmost commitment and dedication.”
Mr Bishnoi said “Management’s relentless efforts for raw material securitisation have helped in acquiring 51% stake in Eastern India Investments Ltd, which is a step in the right direction and similarly, sincere efforts are also on for strategic tie up with NINL, which augurs well for future.”
Mr Bishnoi announced that “9 new applications for Iron Ore mining leases have been made and five mining lease applications have been renewed in tandem for raw material securitization.”
He also said that “We were conferred with Navratna status which would play a vital role in our decision making and enable us to take our growth plans forward quickly.”
Mr Bishnoi said the management is actively pursuing JVs with PSUs and Govt. Companies with twin objectives of enhancing raw material sourcing and geographically spreading our wings for all round growth of the Company. The MOU signed with Indian Railways for setting up of AXLE PLANT is one of such outcome of the above efforts.
While congratulating the employees for their stupendous achievements, Mr Bishnoi appealed to all to exhibit the entrepreneurial and managerial capability to the fore and open new vistas for the future and enlarge our presence at national and international level and pilot our efforts towards market leadership.
