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The public sector major Steel Authority of India Ltd (SAIL) recorded highest ever growth with a net profit at Rs 2,935 crore for the period. There has been a growth of eight per cent growth in saleable steel production in the first nine months of the current fiscal at 8.5 million T. However due to lower steel prices and input costs, SAIL registered a fall in net profit at Rs 2,935 crore.SAIL has put in place a corporate plan envisaging an investment of Rs 3,500 crore by 2011 to become a 22 million tonnes company. The company has already spent Rs 498 crore on ongoing capital schemes in the first nine months of 2005-06 fiscal. In view of the National Steel Policys vision of achieving steel production of 110 mT by 2020, the Union Minister of Steel Ram Vilas Paswan emphasised the need for technology upgradation and increasing productivity. |
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| Posted : 4/28/2006 |
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