Steel Minister reviews SAIL’s performance and progress of Modernisation and Expansion

New Delhi, May 21: The Union Minister for Steel, Beni Prasad Verma has reviewed the Quarter 4 and Financial year 2012-13 performance of Steel Authority of India Limited (SAIL) here today.

Verma was not satisfied with the performance of SAIL on the whole and advised the company to take corrective measures immediately. He expressed his concern on the progress of modernisation and expansion and directed the PSU to bring synergy in various activities of expansion so that integrated commissioning of facilities is achieved quickly. The Minister said that profitability of the company can improve only if the expansion projects are completed and stabilized within a short period of time. He expressed concern over the performance of Durgapur and Bokaro Steel Plant and advised the plants to prepare an action plan for improving the same.

The company produced 14.27 MT of Hot Metal in 2012-13 which has grown by 1% over Corresponding Period Last Year (CPLY). Total sales registered a growth of 2.8% in Q4 at 3.24 MT as compared to CPLY. SAIL showed improvement in Blast Furnace productivity, energy consumption and coke rate of 5%, 3% and 1% respectively. Bhilai and Rourkela developed new grades of ASTM 537 plates which find application in pressure vessels for the petrochemicals industry. Bokaro Steel Plant came out with ultra high strength HR and CR steel especially for automobile industry. For the first time, Durgapur Steel Plant rolled out 31 CrV3 grade billets, a product highly sought after among makers of spanners and hand-tools.

Modernization projects at Rourkela Steel Plant (RSP) including the new Sinter Plant and new Coke Oven Battery no. 6 have commenced production. While at IISCO Steel Plants (ISP), a new Coke Oven Battery no. 11 and Sinter Plant have been operationalised and hot trials for the new Wire Rod Mill have also commenced.

SAIL employees won the maximum number of Vishwakarma and Shram Awards declared in the country, the highest for any organization both among private and public sector.