SAIL's production rises 7 per cent in July-September quarter

New Delhi, Oct 1 (PTI) State-run Steel Authority of India ( SAIL) today said it has recorded a growth of 7 per cent in hot metal production at 3.6 million tonnes (MT) in the July-September this fiscal over the corresponding period last year.

"Growth in crude steel and saleable steel production was 5 per cent and 4 per cent, with production of 3.39 MT and 3.17 MT in Q2 FY'13 respectively," SAIL said in a statement.

There was 6 per cent growth in hot metal production and 4 per cent growth in production of crude steel as well as saleable steel in September2012, over the same month last year, the statement said.

The blast furnace productivity showed substantial increase of 8 per cent in second quarter over same period last year.

As far as production in April-September period was concerned, it also grew by 3 per cent in both hot metal and crude steel over the same period last fiscal.

"The production growth is in tune with the momentum that the ongoing modernisation & expansion plan of SAIL has attained, as it reaches the advanced stages of completion," the company said.

The plan not only envisages substantial growth in production volumes in a phased manner, but also producing new variety and range of products to cater to new market segments, it added.

The steel maker is in the midst of expanding its crude steel production capacity to 21.40 MT per annum from 12.84 MT per annum at present with Rs 72,000 crore investment.

The PSU has hiked its planned expenditure during the 12th Five-Year Plan (2012-17) by 33 per cent to Rs 65,000 crore on modernisation and expansion from Rs 45,000 crore.