Steel Authority of India Limited (SAIL) has released its results for its monthly production for July 2013. It has witnessed a positive growth of 3% in comparison to the same period last year. Its production for saleable steel was 1.08 MnT in the month.
The company’s production for the first quarter of FY 14 was at 3.2 MnT which now stands at 4.2 MnT for April-July period after including July’s production. Its production for June’13 also was 1.08 MnT. It had witnessed a growth of 6% in their quarterly production for FY 14.
SAIL’s production efficiency got a boost as their energy consumption decreased by 1% and their blast furnace productivity improved by 2%. The credit for such improvement goes to SAIL’s renewed focus on controlling internal costs.
“SAIL’s modernization and expansion programme (MEP) continues to be implemented on high priority. Cumulative orders worth Rs 58,579 crore were placed and an expenditure of Rs 46,064 crore incurred until June ’13”, the PSU mentioned in their statement.
SAIL aims to reach 45 MnTPA capacities by year 2020.
SAIL is the leading steel-making company in India. It is a fully integrated iron and steel maker, producing both basic and special steels for domestic construction, engineering, power, railway, automotive and defense industry and for sale in export markets. SAIL is also among the seven Maharatnas of the country’s Central Public Sector Enterprises. SAIL manufactures and sells a broad range of steel products, including hot and cold rolled sheets and coils, galvanized sheets, electrical sheets, structures, railway products, plates, bars and rods, stainless steel and other alloy steels. The company has the distinction of being India’s second largest producer of iron ore and of having the country’s second largest mines network.