RINL posts 36% growth in exports; to set up steel rolling facility in Sri Lanka

KOLKATA: RINL has registered 36% growth in exports between April-December 2014, even as total steel exports from India in the same period went down 5.3%. The company has started leveraging its shore-based location to increase exports with export-oriented products hitting the market. In the focus is on exports to South Asia, South East Asia, Middle East and African countries.

In particular, RINL has started marketing its products in East African markets like Kenya, Ethiopia, Mozambique, South Africa, Tanzania, Uganda etc. In step with its strategic thrust on exports, RINL has also opened an International Marketing Office (IMO) at Colombo to roll products in Sri Lanka and export these items to nearby countries, in addition to targeting sales in the domestic Sri Lankan market.

The rolling facilities and RINL's Sri Lanka operations are expected to start from next month.

RINL, which posted an export turnover of Rs 747 crore in 2013-14, recently bagged Star Performer award amongst large industries for its export performance by EEPC (Engineering Export Promotion Council) sponsored by the union commerce ministry.

Commenting on the performance ,P Madhusudan, CMD, RINL congratulated T K Chand, director(commercial) and the export department for achieving strong growth. He also urged the marketing collective to step up its initiative by increasing sales and strengthening the company's market presence overseas.