The Steel Authority of India Ltd (SAIL) must allocate at least Rs 1,000 crore for the improvement and upgradation of production facilities of its plants so as to produce all types of high-grade steel which India imports today, minister for steel Braja Kishore Tripathy said here today. Tripathy also asked SAIL to identify such products and proceed in a planned manner.
The minister emphasised on higher capacity utilisation and achievement of production targets.
He also said SAIL must expedite its business restructuring which would go a long way in solving problems adding that the ongoing projects such as long rail facilities in rail and structural mill in Bhilai Steel Plant and rebuilding of coke oven battery and upgradation of ERW pipe plant in Rourkela and reheating furnace.
More From This Section
The minister suggested that Durgapur Steel Plant should produce axles and wheels to 100 per cent satisfaction of the railways.
Meanwhile, SAIL made a total saving of Rs 451 crore during 2002-03 and has reduced its manpower by 10,000.
The saleable steel production of 10.35 million tonne during the year showed an increase of 7 per cent over the previous year.
As per an official statement, the company has also improved techno-economic parameters by reducing the coke rate and over all energy consumption.