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Essar Steel India Ltd (ESIL), on Tuesday, said it has substantially improved its performance for the year ended March 31, 2017 with the total flat steel production registering a growth of 47 per cent at 5.6 million tons (m.t.), compared to 3.8 m.t. in the corresponding period last year.
Pellet production grew by 60 per cent to 9.3 m.t. (5.8 m.t.) while that of value-added steel rose by 20 per cent to 2.8 m.t. (2.3 m.t.), Dilip Oommen, CEO and Managing Director, Essar Steel, said in a statement.
Various measures taken by the Union Ministry of Steel in the last fiscal led to improved performance in steel sector. These measures should continue to ensure that steel sector is able to sustain the momentum gained in the last fiscal and moves forward towards growth, he added.
Essar Steel is a leading integrated steel producer with a production capacity of 10 MTPA, supported by a 20 MTPA pellet facility. It produces over 300 grades of steel conforming to quality standards of international certification agencies. The products, many of which are import substitutes, cater to the requirements of a wide cross section of industries.
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