Maintaining thrust on production to meet the growing demand for steel in the domestic market, Steel Authority of India Ltd (SAIL) achieved best-ever February performance by producing 1.1 million tonnes of saleable steel, a growth of 7% over February '07, with capacity utilisation of the SAIL plants going up to 122%. The company also recorded best-ever February production of hot metal at 1.24 million tonnes and 1.14 million tonnes of crude steel, both showing 6% growth over the corresponding period last year (CPLY).
Consequently, during the period April '07-February '08 of the current financial year, SAIL produced 11.8 million tonnes of saleable steel, an increase of over 4 lakh tonnes over CPLY, with an average capacity utilisation of 117%.
Key techno-economic parameters also improved in February '08. Coke rate at 524 kg per tonne of hot metal was 3% lower and energy consumption at 7.05 giga calories per tonne of crude steel reduced by 1% over CPLY. Production through the energy-efficient continuous casting route crossed 75 lakh tonnes, 9% higher than February '07. With thrust maintained on production of value-added and special steels, the SAIL plants produced nearly 36 lakh tonnes of such items in February '08, an increase of 49% over CPLY.
The captive mines of SAIL produced 2.2 million tonnes of iron ore in February '08 and met 100% requirement of the plants. Coal production from captive collieries was increased during the year (April '07-February '08) by 50% over CPLY.
During February '08, SAIL's Central Marketing Organisation achieved sales of 1.03 million tonnes, 3.7% higher than CPLY.
With SAIL entering its 50th year of production, February '08 was a memorable month for the company. The month's other highlights included payment of Rs. 673.49 crore to the Government by SAIL as interim dividend for the financial year 2007-08, inauguration of Bhilai Steel Plant's Rs. 11,262-crore expansion and modernisation programme by Union Minister for Chemicals & Fertilisers and Steel Mr Ram Vilas Paswan, presentation of the FICCI Annual Award 2006-07 to SAIL for outstanding achievement in the category of Rural & Community Development Initiatives, and signing of a shareholder's agreement with Jaypee Associates Limited to form a joint venture company for setting up a 2.1-million tonne capacity cement plant at Bokaro.