SAIL advised to widen its international presence

SAIL advised to widen its international presenceThe government wants Steel Authority of India Limited (SAIL) to further extend its reach in the international market presence by offering more value-added steel products in emerging economies.

The piece of advice was given by Steel Secretary G.  Mohan Kumar yesterday, during a review of the performance of the state-run steel producer at its central marketing organisation (CMO) headquarters in Kolkata.

Mr.  Kumar said that the steel giant should "further widen its international presence and reach value-added steels to newly emerging markets" across the globe.

Mr.  Kumar's advice comes a few days after a parliamentary committee asked SAIL to take steps to strengthen its international presence.

During the recently concluded financial year (FY2013-14), SAIL achieved sales growth of 7 per cent in domestic sales to 12.1 million tonnes, as against 11.3 million tones in the previous financial year.  SAIL-central marketing organisation (CMO) said in a statement that sales of flat and long steel products grew 9 per cent and 3 per cent, respectively.

Focus on sales of value-added steel products during the last financial year enabled the company to market 2.2 lakh tonnes of special steels, which included one lakh tonnes of stainless steel.  In the FY2014-15, SAIL-CMO's product basket will be enriched with high-quality wire rods and auto-grade cold-rolled steel, which will be produced by the company's brand new mills at its IISCO and Bokaro Steel Plants.

The public-sector steel giant's ongoing Rs 72,000 crore modernization & expansion plan will increase its hot metal capacity from 14.23 million tonne per annum (MTPA) to 23.46 MTPA.