Assures them financial stability
Cash strapped RINL recently convened a meeting of bankers to showcase the work that the shore based integrated steel plant has been carrying out in order to deal with the crisis.
RINL’s Chairman and Managing Director (CMD), Mr Atul Bhatt, hosted a pivotal meeting with prominent bankers at the Administration building of RINL wherein he elaborated on the various initiatives and strategic steps taken by RINL to bolster its position in the steel sector.
“RINL, the corporate entity of Visakhapatnam Steel Plant, has long been at the forefront of India’s steel industry and has continued its journey of innovation and growth” said Mr Atul Bhatt.
One of the key aspects highlighted in the presentation was RINL’s commitment to sustainable and environmentally responsible steel production. This aligns with the global shift towards green and clean manufacturing practices.
As RINL continues to advance and innovate, it seeks to forge stronger bonds with its financial partners to ensure mutual prosperity and contribute to the broader industrial and economic landscape of India.
During the meeting the CMD called for the bankers’ ongoing support and their continued assistance.
“Financial institutions have played a crucial role in RINL’s growth journey by providing the necessary funds and financial expertise. In return, RINL has been a reliable borrower, utilizing these resources to fuel its growth and contribute to the nation’s economic development” noted Mr Bhatt. Bank officials expressed their appreciation to RINL for hosting the event and recognizing it as an essential platform for fostering communication and cooperation.
They acknowledged RINL’s pivotal role in the steel industry and its contributions to India’s industrial development and collectively assured RINL of their continued financial assistance.
‘RINL’s efficiency has significantly gone up over the years.
I along with other bankers very truly impressed by some of their best practices and the overall commitment of the management in turning around the company’ said a senior executive of one of the top PSBs who was in the meeting speaking to Vizag Industrial Scan.
Mr Deb Kalyan Mohanty, Director (Commercial), Dr. Suresh Chandra Pandey, Director (Personnel) & Addl. charge Director (Finance), Mr V. Santa Kumar, CGM (Finance &Accounts), RINL along with senior bank officials from State Bank of India, Union Bank of India, IDBI, Indian Bank, Punjab National Bank, Bank of Baroda and Canara Bank, senior officials of F&A (Finance & Accounts) department of RINL participated in the bankers meet.
The visiting bankers later toured units of Visakhapatnam Steel Plant which left them quite impressed by the use of advanced technology and remarkable cleanliness.
