Steel Authority of India (SAIL) has been pulled up by Steel Minister Beni Prasad Verma over its disappointing performances as the later believes that the company could have fared better if their expansion and modernization programmes were completed on time.
SAIL’s half yearly performance is likely to be reviewed on November 1, 2012. It has embarked on a massive Rs 72,000 crore expansion plan to increase its capacity to 24 MTPA. The company is hoping to complete all schemes by the first half of next year.
The company has reported a jump of 7% in hot metal production in the July-September 2012 period over corresponding period last year, with a production of 3.6 million tonnes (MT) in Q2FY13. The crude steel reported a jump of 5% and production stood at 3.39 MT while the saleable steel production was up by 4% and stood at 3.17 MT in Q2FY13.
