SAIL records 37 per cent jump in exports in April-September '13

KOLKATA: Steel Authority of India Limited ( SAIL) recorded a 37 per cent jump in steel exports with sales of 1.9 lakh tonne achieved in the first half of the current financial year, compared to exports of 1.37 lakh tonne in previous corresponding period. The company's saleable steel sales registered a growth of 8per cent at 5.7 million tonnes in April-September, 2013, compared to corresponding period last year. Saleable steel production registered a growth of 4 per cent with a production of 6.5 million tonne in April-Sept.'13, making it the highest ever H-1 production of saleable steel.

With a 1per cent decrease in specific energy consumption compared to previous corresponding period and a 1per cent improvement in blast furnace productivity production paramters too showed an improvement. SAIL also reported a 1per cent improvement in concast production, while captive power generation went up by 2per cent in April-Sept. 2013 compared to same period last year.

In the month of September, 2013, SAIL launched its "Cost Optimization Initiatives", outlining a road map for achieving an overall savings target of around Rs 5,000 crore during the next three years. Thrust areas identified for continual cost reduction include input optimisation, improving the operational efficiency by optimally utilising the available assets, quick stabilization of the newly commissioned units and reducing overhead costs and enhancing employee productivity. C S Verma, chairman, SAIL expressed confidence that the growth trend in sales and exports would continue in the coming months.