Source: The Economic Times, Aug 23, 2010
ROURKELA: Navaratna Public Sector company Steel Authority of India Limited (SAIL) is heading towards becoming a “global company” for its quality control, pricing, cost efficiency and cost effectiveness, SAIL chairman C S Verma said on Monday.
SAIL would reach its production target of 24 million tonnes from existing 14 million tonnes by 2012-13, the SAIL chairman told a new conference here.
Verma said the SAIL’s modernisation programme in all its units including Rourkela Steel Plant (RSP), was under progress. The SAIL chairman in his maiden visit to the steel plant here has expressed his satisfaction over the ongoing modernisation plans with a target expenditure of Rs.11,800 crore which will be completed by 2012-13.
He said the RSP had been contributing 16 per cent of the steel major’s overall production while the steel plant’s profit margin has registered 19 per cent which proved the efficiency of RSP in the country.
SAIL has fixed a target of 60 mt by 2020 to meet the country’s steel demand which would be estimated to be 180 mt, he said.
The SAIL chairman has lauded the output of Rourkela unit stating that each one of us can take great pride of being part of the SAIL.
Replying to a question, Verma ruled out any problem of getting sufficient raw material for the expansion and modernisation programmes of the SAIL. He said SAIL had sufficient raw material to run its units for next 50 years.