With a turnaround on the card, state-run Steel Authority of India Limited (SAIL) is all set to consolidate its position as country’s largest steel producing company.
The construction of Blast Furnace-8 installed in Bhilai Steel Plant (BSP) has been completed and the company plans to start operation soon. The blowing-in of BF-8 will complete the Rs 62,000 crore modernisation and expansion plan of SAIL.
The company had taken up major expansion and modernisation plan in BSP, Rourkela Steel Plant and Burnpur Steel Plant. In other entities of the company, minor expansion plans were also implemented.
The expansion programme in Rourkela and Burnpur had been completed earlier and had come to stream. The plan in BSP, which earns highest profit for the SAIL, is in the final stage. The BF-8 has a capacity of 8000 tonnes per day.
“The completion of expansion plan will enhance SAIL’s crude steel capacity to 21.46 million tonne per annum,” company’s spokesperson said. This would consolidate the company’s position to remain as number one and dominant player in steelmaking in the country, he added.
Earlier, private steel maker JSW Steel had outshined SAIL to become the largest steel producing company in the country with an installed capacity of 18 million tonne per annum (mtpa) in May this year.
Importantly, SAIL is completing the capacity expansion at a time when demand and prices in the steel sector were improving. The expansion would also trudge the company on a stronger growth trajectory having a significant impact on the earnings.
Source: Business Standard