Millennium Post

'SAIL to maintain growth momentum in FY18'

SAIL chairman P K Singh on Thursday reviewed the strategic sales initiatives charted out by the PSU s marketing team for the current financial year in city.

SAIL to maintain growth momentum in FY18
Steel Authority of India (SAIL) is aiming double digit growth in 2017-18 by greater synergy amongst various units that would result in maintaining traction of the previous fiscal.

SAIL chairman P K Singh on Thursday reviewed the strategic sales initiatives charted out by the PSU s marketing team for the current financial year in city.

"The company has high growth targets but numbers are not been finalised and disclosed now. We will maintain at least the previous year's growth momentum," SAIL sources said.

A company statement issued here said Singh congratulated the marketing team and plants for achieving best production and sales in SAIL s history with 12 per cent growth in saleable steel production and sales of over 13 million tonnes during 2016-17.

Singh said considerably higher targets set could be fulfilled with effective strategic plans, the release said.

"We can achieve our targets through greater synergy amongst various units of the organisation," he said expressing confidence on the collective approach.

SAIL director (marketing) Soma Mondal highlighted the challenging market conditions and assured that every possible effort would be made by the marketing team to boost the company s profitability through complete customer satisfaction. PTI

Iron ore output may have risen by 28% to 200 mt in FY17: Govt

India's iron ore production is likely to have increased by 28 per cent to 200 million tonnes during the 2016-17 fiscal, a top official said on Thursday. "We did 129 million tonnes (of iron ore output) in 2014-15. In 2015-16, we did 156 million tonnes (MT) and in 2016-17 we hope to touch 200 million tonnes (provisional)," Mines Secretary Arun Kumar said during the Global Natural Resources Conclave organised by Network 18 and CII. "So, I think we are on the right track and if this trajectory follows, we will start beating Australia in export. But that's another story," Kumar said. With regard to imposition of minimum import price on certain categories of aluminium products, Kumar said, "We have sent our recommendations and replies of the queries to the Ministry of Commerce and the matter is with them now". Kumar had earlier said that the total value of the ore produced during the April-January period stood at Rs 19,417 crore.
PTI

PTI

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