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Steel Authority of India Limited has achieved its highest ever production of crude steel at 15.021 million tonnes during financial year 2017-2018, said Chairman and Managing Director, Saraswati Prasad.
Prasad was speaking at SAIL’s 46th annual general meeting where he said that the company has also achieved an all-time high production of saleable steel at 14.071 mt and hot metal at 15.983 mt. SAIL has also registered an all-time best performance of continuous-cast steel production at 12.80 mt, a growth of 9 per cent over the previous best of 11.77 million tonne achieved in 2016-2017.
Prasad said that growth in domestic steel consumption is backed by development of India's infrastructure sector. It is further supported by 7.8 per cent growth in domestic finished steel consumption during 2017-2018, as a result of growing activities of steel intensive sectors.
The improved operational performance is backed by increase in saleable steel production, higher share of concast production, improved product mix, improvement in blast furnace productivity, reduction in coke rate and specific energy consumption, reduction in specific wage bill among others, Prasad said.
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