SAIL ACHIEVES RECORD PERFORMANCE IN 2002-03

---

The Steel Authority of India Limited (SAIL) the leading public sector undertaking of the Ministry of Steel has produced 10.3 million tonnes and sold 10.1 million tonnes of quality saleable steel during the year 2002-03 showing growth of 7 and 6 per cent respectively over the performance of the last fiscal. It recorded the highest ever exports of 8.5 lakh tonnes, a growth of 54 per cent over 2001-02.

All major products of SAIL registered growth in sales. It recorded 27 per cent growth in sales of rails, 25 per cent in HR coils, 12 per cent in CR plates and 10 per cent in HR plates. The sale of steel items by the countrywide network of SAIL dealers showed a quantum jump of 97 per cent over the last year's sale and rural dealers doubled their sales.

SAIL has reduced its mounting debt burden by a sizable Rs. 700 crore to Rs. 13,300 crores during 2002-03. The total interest charges were reduced by about Rs. 300 crore during the year compared to the last year. Thrust was laid on upgradation work of some important facilities like finishing complex of Bhilai's rail mill and ERW pipe plant at Rourkela during the year.

The company saved a sum of Rs. 400 crore mainly in terms of energy consumption by way of improved technoeconomic efficiency. While the coke rate was down by 4 per cent to 537 kg a tonne of hot metal, the overall energy consumption came down by 3 per cent to the lowest ever 7.5 giga callorie a tonne of crude steel. Blast furnace productivity increased by 2 per cent to 1.5 tonne per cubic meter a day.

Keeping up its emphasis on manpower rightsizing, SAIL achieved a reduction of 10,000 in its workforce through VRS and natural separations during 2002-03, bringing its total manpower strength to below 138,000. With this, SAIL has been able to bring down manpower by 40,000 since 1998.