Saturday, Jun 12, 2004
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By Our Staff Correspondent
KOLKATA, JUNE 11. The Rourkela Steel Plant (RSP), which was the only loss making integrated plant from the SAIL stable in 2003-04, is likely to be back in black. The plant has registered net profit since January. The plant has registered a cash profit of Rs. 165 crores during the last fiscal after a gap of almost a decade. The last time the plant registered a cash profit was Rs. 38 crores in 1995-96. SAIL has already turned around its other loss making integrated facility in Durgapur. While hoping to turn the corner with a net profit this fiscal, the RSP Managing Director, Sanak Mishra, told The Hindu that investments worth about Rs. 200 crores have already lined up to improve the bottomline. While a Rs. 95 crore capital repair scheme for blast furnace No. 4 has already been approved by the SAIL board, the company has extended an in-principal approval towards revamp of its ageing sinter plant at around Rs. 100 crores.
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