SAIL achieves best-ever February performance

New Delhi, Mar 3 (UNI) Maintaining thrust on production to meet the growing demand for steel in the domestic market, the Steel Authority of India Ltd (SAIL) achieved best-ever February performance by producing 1.1 Million tonnes (MT) of saleable steel.

The figure presents a growth of seven per cent over February '07, with capacity utilisation of the SAIL plants going up to 122 per cent.

According to a release issued here today, the company also recorded best-ever February production of hot metal at 1.24 MT and 1.14 MT of crude steel, both showing 6 per cent growth over the corresponding period last year (CPLY).

Consequently, during the period April '07-February '08 of the current financial year, SAIL produced 11.8 MT of saleable steel, an increase of over 4 Lakh Tonnes (LT) over CPLY, with an average capacity utilisation of 117 per cent.

Key techno-economic parameters also improved in February '08.

Coke rate at 524 kg per tonne of hot metal was 3 per cent lower and energy consumption at 7.05 giga calories per tonne of crude steel reduced by 1 per cent over CPLY.

Production through the energy-efficient continuous casting route crossed 75 LT, 9 per cent higher than February '07. With thrust maintained on production of value-added and special steels, the SAIL plants produced nearly 36 LT of such items in February '08, an increase of 49 per cent over CPLY.

The captive mines of SAIL produced 2.2 MT of iron ore in February '08 and met 100 per cent requirement of the plants. Coal production from captive collieries was increased during the year (April '07-February '08) by 50 per cent over CPLY.

During February '08, SAIL's Central Marketing Organisation achieved sales of 1.03 MT, 3.7 per cent higher than CPLY.

The month's other highlights included payment of Rs 673.49 crore to the Government by SAIL as interim dividend for the financial year 2007-08, inauguration of Bhilai Steel Plant's Rs 11,262-crore expansion and modernisation programme by Union Minister for Steel Ram Vilas Paswan, presentation of the FICCI Annual Award 2006-07 to SAIL for outstanding achievement in the category of Rural and Community Development Initiatives, and signing of a shareholder's agreement with Jaypee Associates Limited to form a joint venture company for setting up a 2.1 MT capacity cement plant at Bokaro.

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