SAIL to ramp up its capacity to 19.5 MT by September

Steel Authority of India (SAIL) is planning to increase its capacity to 19.5 million tonnes (MT) by September this year. At present, the company’s hot metal capacity stood at 14 MT. Moreover, the company will ramp up its raise hot metal capacity to 23.5 MTPA in the next fiscal. In this regard the company is implementing Rs 72,000 crore expansion programme. The domestic steel giant has cumulatively spent Rs 53,270 crore on the programme till March 2014. During 2013-14, projects worth about Rs 6,500 crore were operationalised, resulting in the addition of 2.5 MT hot metal capacity. The company has posted a marginal rise of 0.90% in its net profit at Rs 452.68 crore for the quarter ended March 31, 2014 as compared to Rs 448.63 crore for the same quarter in the previous year. Total income from operations of the company has increased by 10.15% at Rs 13509.21 crore for quarter under review as compared to Rs 12264.74 crore for the quarter ended March 31, 2013.