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  Business   Companies  26 Aug 2017  IISCO steel plant to capture 10 per cent market in long products: SAIL

IISCO steel plant to capture 10 per cent market in long products: SAIL

PTI
Published : Aug 26, 2017, 8:00 pm IST
Updated : Aug 26, 2017, 8:42 pm IST

SAIL said its IISCO plant in Burnpur will escalate its hold in the market which is currently 7 per cent.

SAIL on Saturday said that its IISCO steel plant in Burnpur will help the PSU's long product market share to 10 per cent from 7 per cent at present. (Representational Image)
 SAIL on Saturday said that its IISCO steel plant in Burnpur will help the PSU's long product market share to 10 per cent from 7 per cent at present. (Representational Image)

New Delhi: State-owned SAIL on Saturday said that its IISCO steel plant in Burnpur will help the PSU's long product market share to 10 per cent from 7 per cent at present.

"SAIL-ISP’s (IISCO Steel Plant) new and modern plant, which was dedicated to the nation by the Prime Minister, will facilitate SAIL to take its market-share in long products to 10 per cent from the existing seven per cent," the PSU said in a statement.

Steel Authority of India Ltd (SAIL) further said that it is in the phase of reinventing its processes, while it nears the completion of company's modernisation programme, it said.

The company's Chairman P K Singh visited IISCO Steel Plant at Burnpur on Satruday and interacted with cross section of more than 600 employees, where he exhorted ISP collective towards surpassing the rated capacities of the new mills with the slogan of 'first production to capacity and then production to potential beyond capacity'.

Encouraging the employees, he explained company's immediate targets and priorities for realigning ISP workforce.

After modernisation, ISP boasts of a modern Wire Rod Mill (WRM), Universal Section Mill (USM) and Bar Mill capable of producing high quality products. "The Plant has huge potential to capture newer market segments... Disruptive improvement is the order of the day where we have to become world class in all spheres of production, performance and marketing to customers.

"There are dreams and great hopes pinned on the performance of these new mills, and I am sure that ISP collective can bring out the best results," Singh said.

Tags: steel authority of india ltd, iisco steel plant
Location: India, Maharashtra, Mumbai (Bombay)