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| SAIL battles meltdown to retain output level |
| Press Trust of India / New Delhi May 19, 2009, 18:04 IST |
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SAIL, the country's largest steel maker, managed to sail through the global economic meltdown in 2008-09, retaining its steel production almost equivalent to the previous fiscal (2007-08) at 12.5 million tonnes. It produced 13 million tonnes of saleable steel in 2007-08, 0.5 million tonnes higher than the last fiscal.
"SAIL could achieve a production level of 12.5 million tonnes of saleable steel in the last fiscal by converting challenges into opportunities," a company official said.
It achieved the highest special steel production at 3.72 million tonnes, recording growth of 11 per cent over the previous year. Its overall sales volume stood at 11.57 million tonnes, of which the contribution of long steel products used by the construction sector was 4.45 million tonnes.
During the period under review, the company made a record supply to projects of national significance, including Delhi Metro Rail Corporation, power and telecom sectors.
Hit by waning demand for steel amid the global economic slowdown, SAIL had changed its products mix in line with the market requirement last year. Company's Chairman S K Roongta had said the production was in sync with market demand.
State-run SAIL completed 50 years of production on February 3 this year with a cumulative output of 391 million tonnes of hot metal, 347 million tonnes of crude steel and 299 million tonnes of saleable steel.
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