Prime Minister Narendra Modi will be visiting Bhilai Steel Plant (BSP) on June 14 , officials informed.
He will also lay foundation stone for new IIT building in Bhilai.
Chief Minister Raman Singh visited jubilee stadium on Friday and reviewed preparation for the proposed visit of the Prime Minister. He also participated in a meeting in Bhilai House to review the preparations .
The Prime Minister is also to address a public meeting at jubilee stadium in Steel City.
Notably, SAIl's Bhilai Steel Plant (BSP) has blown in the Blast Furnace No 8 – Mahamaya successfully recently.
This was the first step towards commissioning of Mahamaya which has a useful volume of 4060 cubic metre and capacity of producing 8030 tonnes of hot metal per day or and 2.8 million tonnes per annum.
SAIl is increasing its saleable steel capacity and is targeting to increase sales volume by 10 percent every year from the 14 MT in 2016-17, a SAIl statement had informed earlier.
Notably, SAIl announced its financial results for the fourth quarter of the Financial Year 2017-18 (Q4 FY18) and for FY18. After returning to profits in Q3 FY18, the Company in Q4 FY18 recorded a Net Profit of Rs.816 Crore reaffirming SAIl’s positive performance. This comes after making a provision of Rs.582 Crore towards enhanced gratuity recently approved by Government of India.
All the five integrated steel plants of the Company have also recorded individual profits in Q4 FY18. SAIl management’s sustained efforts for process integration starting from production till reaching the customers, the intensive marketing efforts along with ramping up of production and stabilization of new mills are all yielding results and a novel end-to-end approach with its new product offerings is helping the Company achieve a stronger position.
The company’s Net Turnover in Q4 FY18 of Rs. 16,811 Crore saw an increase of 34% over CPlY. The Q4 FY18 EBITDA at Rs. 2,624 Crore, a humongous growth over Q4 FY17, is highest in the last twenty-seven quarters. The EBITDA per tonne of sales for Q4 FY 18 is Rs.7020. The total sales volume in Q4 FY18 was 3.738 Million Tonnes (MT) which increased by 8.4% over CPlY.
Slimming the losses by around 83% in FY18, the Profit After Tax on standalone basis improved to Rs. (-) 482 Crore from Rs. (-) 2,833 Crore in FY17. The consolidated profit after tax of the Company stood at Rs. (-) 281 Crore for FY18 as against Rs. (-) 2,756 in CPlY. The strategic and persistent approach to improve operational profitability assisted SAIl to stay EBIDTA positive in FY 18; recorded at Rs.5,184 Crore. The Company registered highest sales volume for the year in FY18 at 14.08 MT which is higher by 7.4% over CPlY.
SAIl’s performance on the production front recorded highest ever quarterly crude steel production of around 4.0 MT in Q4 FY18 with a growth of 6% over CPlY. In Q4 FY18, highest quarterly Concast production of 3.406 MT with growth of 8% over CPlY was also recorded. In the same quarter, the best ever quarterly Coke Rate recorded a reduction of 3% over CPlY, BF productivity was higher by 4% over CPlY and Specific Energy Consumption improved to 6.38 Gcal/tcs, lower by 2% as compared to CPlY.