Financial Daily from THE HINDU group of publications
Tuesday, Apr 04, 2006
Financial Daily from THE HINDU group of publications Tuesday, Apr 04, 2006 |
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Corporate
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Performance Bhilai Steel Plant posts good growth in `05-06 Our Bureau
Kolkata , April 3 Bhilai Steel Plant, the flagship unit of Steel Authority of India Ltd (SAIL), registered comprehensive growth in all production frontiers in 2005-06. According to a company press release, hot metal production grew 14.8 per cent to 5.178 million tonnes, crude steel production grew 10.3 per cent (5.05 million tonnes) and saleable steel production was up 8.9 per cent, ending at 4.29 million tonnes. Average capacity utilisation was above 125 per cent. To achieve this record production, the plant operated all its seven blast furnaces from May to December 2005 and eight coke oven batteries from June last year. In the first nine months of 2005-06, Bhilai Steel Plant registered a turnover of Rs 7,949 crore and a net profit (without taxes) of Rs 2,175.52 crore. Meanwhile, activities under the SAIL Corporate Plan 2012 have already started in Bhilai Steel Plant. A total investment of Rs 9,000 crore was earmarked for the plant, of which Rs 1,200 crore worth of schemes have already been finalised. Capital expenditure in the current fiscal is pegged at Rs 235 crore. According to the plan, the plant's hot metal production is likely to go up to 7 million tonnes from 5 million tonnes. By the end of the current financial year, hot metal production is targeted at 5.45 million tonnes. SAIL wants to reduce the share of semi-finished steel in Bhilai Steel Plant's production basket from 26 per cent to less than 8 per cent by 2011-12 through de-bottlenecking of existing mills.
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