BSP SETS 2002-03 NET TARGET RS. 700 CRORE

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Bhilai Steel Plant (BSP) of the Steel Authority of India Ltd. (SAIL) achieved a profit of Rs. 476 crore during 2001-02. It has increased its internal net profit target for the current fiscal (2002-03) to Rs. 700 crore from Rs. 450 crore set in the annual performance plan (AAP) of SAIL.

The change in the net profit target has cropped up in wake of its performance in the first quarter (April-June) of the current fiscal and the sudden growth in steel prices which is likely to be sustained during the year.

Bhilai Steel ended the first quarter of the current fiscal with 100 per cent growth in despatches of rails and flat products, including plates over the same period last fiscal. Moreover, it could reap the benefits of a sudden pep in the prices of these products during this period.

Bhilai’s rail and structural mill produced 55,577 tonnes of prime ultra tensile strength, UTS-90 rails. It despatched 54,315 tonnes of UTS-90 rails in June 2002 thereby recording the best ever June performance.

Presently, Bhilai has geared up to supply 6.5 lakh tones of prime rails including 26-metre long rails this fiscal which would be the highest rail supply by any manufacturer in the world in a year.