Vizag Steel sales up 87% in Q1

Visakhapatnam : Visakhapatnam Steel Plant posted a growth of 87 per in sales to Rs 2,583 crore during the first quarter of the current financial year as compared with the corresponding period last year. VSP sold about 566,000 tonne steel products during the quarter ending June 2011, an increase of 62 per cent. Sales to projects of national importance also increased to around 150,000 tonnes, which is higher by 26 per cent as against last year. The company gave more thrust on rural marketing during Q1 and appointed 31 rural dealers, a release said.

Production of finished products, particularly steel bars, increased to 220,000 tonne, representing a growth of 6 per cent compared with the last year. The new oxygen plant that was under expansion has started producing both oxygen and argon. The units that were commissioned include water supply plant for the new steel melting shop and the new turbo blower.