Steel Authority of India limited’s (SAIl) relentless drive to fast-track its modernisation and expansion plan (MEP), resulted in commissioning of projects worth Rs 5500 crores in 2012-13. The company’s capital expenditure during FY13 was Rs 9731 crore.
Under the MEP, cumulative orders worth Rs 58,225 crore were placed and an expenditure of Rs 44,536 crore incurred until April ’13.
In financial year 2012-13, projects which were commissioned included new Sinter Plant no.- 3 at RSP, 700 TPD Air Separation Unit-4 Oxygen Plant-II at BSP, Skin Pass Mill at BSl, Raw Material Handling Plant at ISP, Sinter Plant at ISP, Coke oven Battery No.11 at ISP, Burnpur, Coke Dry Cooling Plant at ISP, By-product Plant at ISP, Wire Rod Mill & RHF at ISP.
In April 2013 itself, projects worth Rs 2175 crore have already been commissioned. The company recorded Profit before tax (PBT) of Rs 3241 crore and Profit After Tax (PAT) of Rs 2170 crore for the FY 2012-13.
These were respectively 37% and 39% lower than last year (CPlY). Although net profit was down largely due to the lower Net Sales Realisation resulting from a subdued market, said the officials.
