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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