New Delhi, Jan. 17: Steel giant Steel Authority of India (SAIL)’s top officials, including its chairman and heads of all steel mills, today firmed up the company’s business strategy for the next financial year which aims at producing 10 million tonne (MT) of saleable steel and break even after years of being in the red.
Chairman V.S. Jain and chief executives of the company’s four main integrated steel plants, firmed up the strategy at a two-day workshop held at Ranchi.
“The continuous improvement in quarter-wise financial performance of the company during the current financial year has strengthened the likelihood of SAIL achieving a break-even in 2003-04,” as envisioned by its planners, officials said.
During the current fiscal, SAIL is likely to produce saleable steel in excess of 10 MT for the first time by utilising almost 100 per cent of the rated capacities of its production units. With an objective to achieve break-even during 2003-04 on a full-year basis, further increase in volume of business has been chalked out as a necessity.
SAIL, officials said, had taken steps to identify “the hidden potential in the different operational areas” in order to go beyond the rated capacities. A group of in-house technologists, constituted for this purpose, had identified the areas where SAIL can go beyond its nameplate capacity.