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 Steel Authority of India Limited (SAIL)

 

The government wants Steel Authority of India Limited (SAIL) to further extend its reach in the international market presence by offering more value-added steel products in emerging economies.

The piece of advice was given by Steel Secretary G.  Mohan Kumar yesterday, during a review of the performance of the state-run steel producer at its central marketing organisation (CMO) headquarters in Kolkata.

Mr.  Kumar said that the steel giant should "further widen its international presence and reach value-added steels to newly emerging markets" across the globe.

Mr.  Kumar's advice comes a few days after a parliamentary committee asked SAIL to take steps to strengthen its international presence.

During the recently concluded financial year (FY2013-14), SAIL achieved sales growth of 7 per cent in domestic sales to 12.1 million tonnes, as against 11.3 million tones in the previous financial year.  SAIL-central marketing organisation (CMO) said in a statement that sales of flat and long steel products grew 9 per cent and 3 per cent, respectively.

Focus on sales of value-added steel products during the last financial year enabled the company to market 2.2 lakh tonnes of special steels, which included one lakh tonnes of stainless steel.  In the FY2014-15, SAIL-CMO's product basket will be enriched with high-quality wire rods and auto-grade cold-rolled steel, which will be produced by the company's brand new mills at its IISCO and Bokaro Steel Plants.

The public-sector steel giant's ongoing Rs 72,000 crore modernization & expansion plan will increase its hot metal capacity from 14.23 million tonne per annum (MTPA) to 23.46 MTPA.

 

Source: Top News



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