Union steel Minister Beni Prasad Verma was not satisfied with the performance of Steel Authority of India (SAIL) on the whole and advised the company to take corrective measures immediately.

   

Verma said this after reviewing the March 2013 quarter and the financial year 2012-13 performance of the firm.  He expressed his concern on the progress of modernisation and expansion and directed the PSU to bring synergy in various activities of expansion so that integrated commissioning of facilities is achieved quickly.

   

The minister said that profitability of the company can improve only if the expansion projects are completed and stabilized within a short period of time. He expressed concern over the performance of Durgapur and Bokaro Steel Plant and advised the plants to prepare an action plan for improving the same.

   

The company produced 14.27 mn t of hot metal in 2012-13 which has grown by 1 percent over Corresponding Period Last Year (CPLY). Total sales registered a growth of 2.8 percent in Q4 at 3.24 mn t as compared to CPLY.

   

SAIL showed improvement in Blast Furnace productivity, energy consumption and coke rate of 5 percent, 3 percent and 1 percent respectively.

   

Bhilai and Rourkela developed new grades of ASTM 537 plates which find application in pressure vessels for the petrochemicals industry.