SAIL 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. 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.
CAG Audit Report – SAIL Modernization and Expansion plan
The buzz is that KALYAN MAITY, Director (Raw Material & Logistics), Steel Authority of India Limited (SAIL) is reported to be in race for the post of Chairman, SAIL.
The buzz is that PRAKASH KUMAR SINGH, Chief Executive Officer of SAIL’s Durgapur Steel Plant, has taken over the charge as Chairman, Steel Authority of India Limited (SAIL).