RINL collectively takes pledge to achieve 'Zero Demurrage'
Published: Sep 03, 2024
By TIOLCorplaws News Service
NEW DELHI, SEP 03, 2024: IN a concerted move towards enhancing operational efficiency and reducing expenditure, the leadership of RINL, the corporate entity of Visakhapatnam Steel Plant, came together for a "Zero Demurrage Campaign" pledge yesterday.
The Zero Demurrage pledge was organized at the ED (Works) Conference Hall under the leadership of Atul Bhatt, CMD, RINL, along with GVN Prasad, Director (Commercial), CGM(Works)-I/c, CGMs, Heads of Departments, senior officials and representatives of various trade unions.
Atul Bhatt, CMD, RINL launched the first step towards cost reduction and achieving cash profit with increased production and efficiency.
Recognizing the significant challenges and financial impacts associated with higher Rake Retention Time (RRT), the pledge was administered to reinforce the commitment of all participants for reducing RRT and achieving "ZERO DEMURRAGE." This initiative underscores the organization's resolve to enhance productivity, improve operational efficiency, and secure a brighter future for RINL-Visakhapatnam Steel Plant.
Addressing the gathering, Atul Bhatt, CMD, RINL emphasized the critical importance of Zero Demurrage campaign. He stated, "The financial implications of demurrage are substantial, and it is imperative that we address this issue with utmost seriousness. By pledging today, we are not only committing ourselves to a critical target but also fostering a culture of accountability, trust, and collaboration within our organization."
Atul Bhatt exhorted the RINL collective to put in concerted and dedicated efforts towards reducing the fixed cost, reducing the variable cost and increasing the production to achieve cash profits for RINL.
"Zero Demurrage Campaign by the RINL Collective is the 1st step by RINL management in its efforts to march towards profitability", Atul Bhatt added. Giving an overview of the RINL's present situation to the senior officials and trade union representatives, Atul Bhatt, CMD, RINL said that a turnaround plan has been chalked out as part of which production will be maximized from 2 Blast Furnaces to ramp up the production.
"RINL has the best human resources and a committed workforce and I am sure that with collective efforts from all, RINL will soon be marching towards cash profit", Atul Bhatt said.
