State-run Steel Authority of India Ltd., or SAIL, Sunday said in New Delhi that its production during the fiscal year 2012 stood at 13.5 million tonnes, up by five percent from the 12.89 million tonne in the previous fiscal, on better capacity utilization of its plants, Chairman C.S. Verma reportedly said.
The capacity utilization was better in the 2011-12 fiscal and the production would be much higher in current fiscal, as two blast furnaces would commence production before the end of March, 2013, a source closed to the development said.
Verma earlier indicated that the company's manufacturing capacity would go up to 19 million tonnes next fiscal from 14 million tonnes at present.
Two blast furnaces will start production next fiscal, and this will help the company to raise our steel capacity to 19 MT from 14 MT now," he said.
SAIL has embarked on a whopping Rs.72,000 crore expansion plan intending to take its steel-making capacity to 24 million tonnes by 2013-14. The company also plans to further expand its capacity to 45 million tonnes by 2020.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.