New Delhi: Buoyed by nearly 30% rise in exports in 2013-14, Steel Authority of India Ltd aims to double the shipments to 1 million tonnes next fiscal docking special quality products from its expanded capacity.
The Company official also stated, ‘This has yielded results with exports clocking nearly 30 per cent growth at 0.475 million tonnes in the current fiscal over the last fiscal and, going by the momentum, we hope to achieve 1 million tonnes exports next fiscal (2014-15).’
During 2013-14, SAIL's exports consisted of wire rods, HR coils, CR coils, stainless steel and billets & blooms to around 18 countries, including Saudi Arabia, Canada, Indonesia and Vietnam. It further also included exports of slabs produced by its Rourkela Steel plant. The export product mix in 2014-15 will be qualitatively enriched with special quality products coming from the newly commissioned mills at ISCO Steel Plant and Bokaro Steel Plant.
For the cumulative 11-month period of current fiscal, SAIL's concerted effort in increasing domestic sales as well as exports paid off as these grew by 8 per cent and 33 per cent, respectively. Cumulative sales during the April-February period rose to 10.877 MT, from 10.068 MT in the year-ago period. Exports grew to 0.427 MT, from 0.320 MT a year ago.
"Consistent growth in sales over the last few months has given us the confidence of reporting a better outcome in the coming months, which will further pick-up with the expected strengthening of the market," concluded C S Verma Chairman, SAIL.
