SAIL expansion to yield far more than mere volume gains

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SAIL expansion to yield far more than mere volume gains

SAIL expansion to yield far more than mere volume gains

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Steel Authority of India Ltd (SAIL) is set to consolidate its position further in the domestic steel sector on the strengths of its sound foundation and supportive business outlook. This was stated by SAIL Chairman Mr. S.K. Roongta at the company's 34^th Annual General Meeting held at the Talkatora Stadium here today. He told the company's shareholders attending the meet that the company's ongoing modernisation & expansion programme, which would take SAIL's hot metal production to a level of 23 million tonnes (an increase of nearly 60% on the existing level), was in tune with the boom being experienced by the global steel industry and the high rates of growth being established by the Indian economy and the major steel-consuming industrial sectors.

"The expansion plans are not aimed at volume gains alone," Mr. Roongta informed. "Benefits would come by way of all-round improvement in productivity levels in all areas of operation. Issues pertaining to elimination of technological gaps, energy savings, yield improvement, pollution control, matching infrastructure facilities, etc., will be fully addressed. Wider product-mix with emphasis on value-added products, improved product quality, enhancement in terms of grades and dimensions, will be ensured with latest automation." The SAIL Chairman added that with focused efforts in areas of cost competitiveness and quality improvement, the company's solid financial foundation and skilled, committed and experienced human resources, SAIL is well set on its way to a glorious future.   

In line with its growth strategy, SAIL already has projects worth Rs.18,500 crore in various stages of implementation. Major projects cleared in recent months include modernisation-cum-expansion of IISCO Steel Plant to raise product quality and process productivity to international standards, steel melting and additional cold rolling facility at Salem Steel Plant, and installation of a bar & rod mill at Durgapur Steel Plant. Many other projects forming part of SAIL's Rs. 37,000-crore growth plan are in the final stages of approval.

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