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State-run Steel Authority of India today said it has clocked best-ever production for May at 1.087 million tonnes (MT), an increase of 11% over the same month last year.
"SAIL achieved best-ever May performance in production of saleable steel in May'13 by registering a growth of 11% year-on-year. SAIL's production of saleable steel stood at 1.087 MT during the month," the company said in a release.
The production of crude steel at 1.152 MT for the month was also the highest as against the previous best of 1.135 MT logged in May.
Production of value added and special steel from its plants also went up by around 8% during the month against the corresponding month of the last year, it added.
The steel PSU said its continued thrust on improving key techno-economic parameters has resulted in reduction of energy consumption at 6.57 giga calories per tonne of crude steel showing an improvement of three% over the same month last year.
"Power generation and blast furnace productivity also improved eight% and five% respectively," it said.
The production of the company is likely to further improve in the coming months as its ongoing Rs 61,870 crore expansion is getting progressively commissioned.
SAIL hopes to add around 3 million tonne hot metal capacity in the first half of the current fiscal and by the end of it, it is likely to go up to 19 million tonnes per annum (mtpa) from 14 mtpa now.
Chairman C S Verma hopes steel consumption in the country to clock higher in coming months on account of the inherent strengths of the economy.
India's steel consumption grew by just 3.3% in last fiscal.
