SAIL eyes 21 MT production by FY21



Source: PTI

State-run SAIL recently indicated that it is eyeing steel production target of 21 million tonnes by 2020-21.

“The company will produce to potential and not just name plate capacity. It will achieve the target of 21 million tonnes (MT) by FY21,” Steel Authority of India Ltd (SAIL) Chairman Mr. P.K. Singh said in a statement.

According to the company’s annual report for 2016-17, SAIL produced 14.496 MT of crude steel during the said financial year.

The company said its modernisation and expansion programme will enable it to enormously increase its capacity and produce high margin products particularly from its new mills and market them.

The chairman also said that “cutting-edge in business will be provided by the companys committed human resource as collective wisdom can do wonders.”

SAIL has clocked profits in third quarter of the current fiscal after a gap of ten quarters, the statement said.

Mr. Singh said, “We have to keep up the momentum of improving our performance and there is no reason to look back from here.”

Source: PTI