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News Entry# 288348
  
Dec 12 2016 (09:34)  RINL to focus on promotion of brand image (www.thehindu.com)
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News Entry# 288348     
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Posted by: rdb*^  130780 news posts
Faced with challenges posed by prolonged industrial slowdown and flooding of domestic market with imported steel from China and other countries, Rashtriya Ispat Nigam Limited has decided to focus on promoting its brand Vizag Steel.
RINL, which is adding one million tonne by modernising the blast furnaces and upgrading other facilities with an investment of Rs.5,000 crore, has already completed work on 6.3 million tonne-expansion to take its total capacity to 7.3 million tonne. It has clocked an annual turnover of Rs.12,271 crore during 2015-16 with 5 per cent increase in value and 39 per cent in volume compared to the previous year. The Visakhapatnam-based navaratna company recently renamed Samata Express as Vizag Steel Samata Express which runs between Nizamuddin (Delhi) and
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Visakhapatnam following an MoU with the railways. The Visakhapatnam-Nizamuddin Swarnajayanti Express will also be renamed as Vizag Steel Swarnajayanti Express shortly. It will be spending nearly Rs. 4 crore to promote its brand image through railways.
RINL has appointed Olympics badminton silver medallist P.V. Sindhu as its brand ambassador. The company is entering into an understanding with the APSRTC to promote its image on all the buses operated in the State.
It will promote its image through DD Kisan, exclusive farmers’ channel. It has tied up with FM Radio and FM Gold Radio mainly with an eye on strengthening its network in the rural areas.
Steel consumption
“Going by the thrust laid by Prime Minister Narendra Modi and the Ministry of Steel we want to bring about substantial improvement in per capita consumption of steel in the rural areas by strengthening our brand image,” RINL CMD P. Madhusudan told The Hindu.
The per capita steel consumption in the country is 61 kg compared to the global level of 208 kg. The Ministry wants that the per capita consumption be raised manifold. The launching of work on mega infrastructure projects under Sagarmala is expected to raise the demand for steel.
With modernisation and upgradation of existing units, it will achieve a capacity to 7.3 million tonne.
With over 75 per cent of value-added products in its basket, RINL products are widely used in projects of national importance like Bandra-Worli sea link bridge, Krishnapatnam Port, Alaknanda Hydro Project, Commonwealth Games, ACA-VDCA YSR International Cricket Stadium, Visakhapatnam.
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