Smelting An Aggressive Turnaround Gameplan

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: The ailing Vishakhapatnam Steel Plant has reported a maiden net profit of Rs 450 crore for the fiscal 2003.

The Chairman and Managing Director of VSP Mr B K Panda says that the consistency in upgrading and innovating the plant equipment is the main reason for the present turnaround. Mr Panda was recently promoted to the top job from his earlier position as Director (operations). “We encouraged the worker to innovate various techniques and to bring down costs by offering incentives and cash rewards. The company has organised training programmes for more than 6,500 employees in the areas of skill development, special technological courses, safety and computer based training besides organised quality circles at shop floor levels on issues relating to production, absenteeism, acci- dents and grievances etc. We have geared the employees to adhere to technology regime ensuring health and safety of the equipments by providing motivational climate”, Mr Panda said stressing the main credit shall go to the collective work done at the shopfloor.

B K Panda, Chairman and Managing Director, Vishakhapatnam Steel Plant