March 29, 2024 01:58 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
PM Modi has mastered art of manipulating democracy, hurting Constitution: Mallikarjun Kharge | Mafia-turned-politician Mukhtar Ansari dies of cardiac arrest at 63 | NIA arrests key conspirator in Bengaluru cafe blast case | Actor Govinda returns to politics after 14 years of 'vanvas', joins Eknath Shinde camp | 'To browbeat and bully others is vintage Congress culture': PM posts after 600 lawyers write to CJI

SAIL registers 7 % sales growth in 2013-14

India Blooms News Service | | 03 Apr 2014, 07:55 pm
New Delhi, Apr 3 (IBNS) India's largest integrated iron and steel producer SAIL (Steel Authority of India Limited) has achieved 7 % growth in sales volume with 12.1 million tonnes (MT) sales in FY'14, as compared to 11.3 MT sales in FY'13.

The state run company's growth in domestic sales was supported by impressive growth in exports which registered a growth of 28 % at 0.47 MT compared to 0.36 MT in FY’13.

Production of saleable steel at 12.9 MT in FY’14 was 4 % higher than  FY’13. Continued emphasis on value-added steel production resulted in growth of 6 % with 5.3 MT special quality steel produced in FY’14 as against 5.02  MT in FY’13.

Chairman, SAIL  C.S.Verma congratulated the SAIL collective for the remarkable improvement in performance and exhorted them to make 2014-15 an inflection year with operationalising and stabilising majority of the facilities coming up under MODEX for the company during the year.

The accomplishment coming at a time when steel industry worldwide is facing stiff challenges, has emboldened the company to plan for a double digit growth in the new fiscal.

Projects worth Rs. 10,000 crore have been operationalised by Steel Authority of India Limited (SAIL) in the financial year 2013-14, thus setting an all-time  record for the company.  This takes the total operationailsed projects under the ongoing Modernisation & Expansion Plan (MEP) to around Rs. 23,000 crore till date. 2.5 million tonnes (MT) hot metal capacity has been added in 2013-14 and coke-making & sinter-making capacity of SAIL has also been enhanced during the year.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.