New Delhi, Nov 1 (IBNS) Union Steel Minister Beni Prasad Verma reviewed the performance of Steel Authority of India Ltd (SAIL) here on Thursday.
Steel Secretary D.R.S. Chaudhary was also present on the occasion.
SAIL chairman C.S. Verma made a presentation on the performance of the company during the first half of the financial year.
Verma appreciated SAIL for improvement in its performance on various fronts but at the same time he advised the company to speed up its pace of project completion.
He expressed his concern over the falling sales of the company.
Laying thrust on acquisition and development of mines in India and abroad, Verma said that there is a need to accelerate expansion of existing iron ore mines and aggressively scout for coking coal mines abroad.
SAIL recorded a growth of 3 % in hot metal production in the H-1 (Apr-Sep'12), over corresponding period last year (CPLY). Growth in Crude steel and Saleable steel production was 3 % and 2 % over CPLY.
Techno-economic parameters like BF productivity, specific energy consumption and coke rate registered improvements during the first half of the year.
In the ongoing modernisation and expansion program, SAIL has planned a CAPEX of Rs. 12,000 crore for FY'13 after incurring a capital expenditure of Rs. 11,021 crore in FY'12.
The facilities that have been completed are Coke Oven Battery No.11 and Wire Rod Mill at IISCO Steel Plant, Sinter Plant No.3 & Coke Oven Battery No.6 at Rourkela Steel Plant and 700 tonnes per day, Air Separation Unit at Oxygen Plant-2 at Bhilai Steel Plant. Besides targeting higher production, the Modernisation and Expansion Programme of SAIL will upgrade technology, achieve energy savings, enrich product-mix, reduce pollution and develop mines & collieries and whole range of products to cater to new market segments.
SAIL has appointed around 450 rural dealers in the first six months of 2012-13.
SAIL has also appointed more than 2800 dealers till date to meet the steel demand of small consumers.