Read more below

By Staff Reporter in Calcutta
  • Published 6.01.01
Calcutta, Jan 6 :    Calcutta, Jan 6:  The Steel Authority of India Ltd (SAIL) has recorded a 4 per cent growth in domestic sales in the first eight months of the current fiscal (from April to November) though its export was down during the period. Domestic sales of SAIL in this period was 4.4 million tonnes as against 4.2 million tonnes in the corresponding period of the last financial year. Direct sales has registered a growth of 2 per cent at 2.4 million tonnes compared with 2.3 million tonnes in the previous year. Stockyard sales have recorded a growth of 8 per cent at 2 million tonnes as against 1.9 million tonnes last year. A decline in global markets, coupled with anti-dumping measures by various countries, pushed down export of steel from the country. As a result, SAIL's export was down from 0.54 million tonnes in April to November 1999 to 0.34 million tonne during April to November 2000. Higher sales have been assisted by marginal increase in the domestic demand. However, the growth in demand is not strong enough to cover the domestic oversupply caused by surplus capacity. DSP blast furnace Durgapur Steel Plant has entered into an agreement with Metallurgical and Engineering Consultants (Meecon) for the modernisation of DSP's blast furnace number three. The total project would cost Rs 205 crore.