SAIL registers 7.6 pc growth

CALCUTTA, Apr 30: Steel Authority of India Ltd SAIL achieved a record sale of 8.7 million tonnes in 1998-99, a growth of 7.6 per cent over the previous year, despite a sluggish year in the steel sector.

Sale of steel in domestic market for the first time surpassed 8.2 million tonnes, recording a growth of 11 per cent compared to the corresponding period last year. Besides, 4.8 lakh tonnes of pig iron were sold indigenously, recording a growth of 65 per cent over the previous year, SAIL documents available here said.

Our strategies for meeting the exact requirements of customers and liquidating stock have yielded results, SAIL chairman Arvind Pandy said adding setting a record of highest ever sales in one of the most difficult years is indeed a commendable.

He said SAIL was confident of improving the achievements geared towards further cost reduction over and above the Rs 1,600 crore saved in the last years.