SAIL achieves record production of saleable steel

MUMBAI: The country’s largest steel manufacturer, Steel Authority of India Ltd (SAIL) achieved record production of 3.318 million tonne of saleable steel, highest-ever sales of 3.014 MT for the third quarter of the present financial year.

Compared to the same period last year, the company registered 6% and 8% growth in saleable steel production and sales respectively, during October-December 2006.

In the first nine months of 2006-07, the SAIL plants operated at an average capacity utilisation of 112%, producing 9.328 million tonne of saleable steel, an increase of 6%.

Production of value-added items like rounds and bars, medium structurals, HR coils and plates recorded a growth of 23%, 15%, 14% and 5%, respectively during the period.

The record Q3 sales took SAIL’s nine-month total sales to 8.412 million tonne, an increase of 13%. In the domestic market, the company sold 2.9 million tonne of steel during Q3, an increase of 10.4% The company’s stock were down 1.8% at Rs 90.5 at the BSE at 15:15 IST on Thursday.