SAIL POISED FOR RECORD PRODUCTION IN 2002-03

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The Steel Authority of India Limited (SAIL), a public sector undertaking of the Ministry of Steel is all set to produce more than 10 million tonnes of saleable steel during 2002-03 surpassing its previous best record of 9.5 million tonnes achieved in the last fiscal. The integrated steel plants of SAIL on an average are now operating at nearly 100 per cent capacity utilisation.

SAIL is also heading for best ever performance in the operational parameters. Till February 2003 the plants have recorded the lowest ever coke rate and energy consumption. Coke rate has been reduced by 4 per cent and the overall energy consumption has come down by 3 per cent. The production of steel through continuous cast route has jumped by more than 10 per cent accounting for 58 per cent of the total crude steel production. The blast furnace productivity has also improved substantially. The company has taken concrete measures to improve the yields and increase the utilisation of wastes. SAIL has achieved a cost reduction of nearly Rs. 375 crore till February this year.

The company has taken a number of initiatives to achieve substantial savings over the term loans including negotiations with banks and financial institutions, substitution of higher interest loans and reduction in overall borrowing level by over Rs. 500 crore during the year. It has also intensified its marketing activities to achieve the best ever sales in domestic as well as overseas market.