Ending a long wait, RINL opens its retail outlet in Visakhapatnam

The long due request by the traders of the Visakhapatnam Steel Plant to the Rashtriya Ispat Nigam Limited (RINL) has finally been approved. The RINL, which is the flagship company of Visakhapatnam Steel Plant, opened its retail outlet at B.C Gate at Peda Gantyada. The end users can directly buy their products from the retail outlet.

On Wednesday, 24 July, PK Rath, RINL Chief Managing Director inaugurated the new outlet, which has been set up on a five-acre land. The cost of the construction is said to be around Rs. 4.36 crore, with a storage capacity of 16,000 metric tonnes of steel and a 100 MT weighbridge.

Moreover, the management team of RINL is coming up with a strategic business plan to escalate the distributor network to ensure higher sales. As stated by Mr. Ayodhyaramu, the head of the trade union at the Steel Plant, there are no company’s retail counters, consumers and plant employees that force you to purchase steel at market rates. Hence, RINL steel products will follow no MRP system. This will the distributors fixing their own price depending on the demand and supply factor.

The outlet will be delivering customisable products to the small vendors, which will be ready to use at the site. Reportedly, RINL will ensure delivery of the materials at the customer’s doorstep and simultaneously they will also look for an additional distribution channel in an alternate market segment to sustain sales.