Steel Authority of India limited (SAIl) has planned for a double digit growth in this new fiscal amidst steel industry facing stiff challenges worldwide.
In the FY’14, SAIl has achieved 7 per cent growth in sales volume with 12.1 million tonnes (MT) sales as compared to 11.3 MT sales in FY’13. Growth in domestic sales was supported by impressive growth in exports which registered a growth of 28 per cent at 0.47 MT compared to 0.36 MT in FY’13. Production of saleable steel at 12.9 MT in FY’14 was 4 per cent higher than FY’13. Continued emphasis on value-added steel production resulted in growth of 6 per cent with 5.3 MT special quality steel produced in FY’14 as against 5.02 MT in FY’13.
Chairman, SAIl CSVerma congratulated the SAIl collective for the remarkable improvement in performance and exhorted them to make 2014-15 an inflection year with operationalising and stabilising majority of the facilities coming up under MODEX for the company during the year.
Projects worth Rs10,000 crore have been operationalised by Steel Authority of India limited in the financial year 2013-14, thus setting an all-time record for the company. This takes the total operationailsed projects under the ongoing Modernisation & Expansion Plan (MEP) to around Rs23,000 crore till date. 2.5 million tonnes hot metal capacity has been added in 2013-14 and coke-making and sinter-making capacity of SAIl has also been enhanced during the year.