In today’s 46th Annual General Meeting of Steel Authority of India Limited (SAIL), Chairman and Managing Director – Shri Saraswati Prasad said that the company has achieved its highest ever steel production in FY’18. He also said that it has almost completed its balance Modernization & Expansion Program.
The company has achieved its Hot metal production at 15.983 MnT, Crude Steel at 15.021 MnT and Saleable Steel at 14.071 MnT in FY’18. It also achieved all-time best performance of Continuous-Cast (CC) Steel production of 12.80 MnT with a growth of 9% over previous best of 11.77 MnT achieved was in FY’17.
The company’s operational performance improved is backed by increase in Saleable Steel production, higher share of Concast production, improved product mix, improvement in BF Productivity, reduction in Coke Rate & Specific Energy consumption, reduction in specific wage bill etc.
He also stated that, on the back of various new initiatives to improve productivity and efficiency across all plants, every unit has registered improvement.
Performance of the SAIL’s plant
Bhilai Steel Plant:
Bhilai Steel Plant’s new Blast Furnace 8 ‘Mahamaya’ and SMS-III were commissioned during FY’18 and the Plant also supplied long rail panels (260 meters) to Indian Railways from new Universal Rail Mill, registering a growth of around 112% in FY’18.
Durgapur Steel Plant:
At Durgapur Steel Plant, Narrow Gauge Wheels from Wheel & Axle Plant and High Strength Structural E350 grade from Medium Structural Mill (MSM) were developed in-house.
Rourkela Steel Plant:
Rourkela Steel Plant’s New Plate Mill recorded a growth of 48.1% in FY’18 over corresponding period last year by rolling more than 8 lakh tonnes and the Mill exported 1,27,000 tonnes of CE marked Plates to the European Market as well in the same financial year.
Bokaro Steel Plant:
Bokaro Steel Plant registered record production of Cast Slab at 3.276 MnT in FY’18 (previous best: 2.990 MnT) and highest ever production of CR Coil for sale at 0.916 MnT against previous best of 0.776 MnT.
Future Outlook:
Sighting positive outlook for global and domestic steel industry, Shri Saraswati Prasad said that growth in domestic steel consumption is strongly backed by robust development of India’s infrastructure sector. It is further supported by 7.8% growth in domestic finished steel consumption during the FY’18, as a result of growing activities of steel intensive sectors.
He said, SAIL continues to be the nation’s trustworthy steel supplier and SAIL steel is being used in country’s major developmental project.
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