The Hindu : SAIL to focus on branded products

Online edition of India's National Newspaper
Sunday, Jun 08, 2003

Business

Business

SAIL to focus on branded products

By Our Staff Correspondent

KOLKATA JUNE 7. The Steel Authority of India (SAIL) plans to enhance the sales of branded products from 2.6 per cent to over 10 per cent of its total production in 2003-04. The turnover of branded products will be more than doubled from Rs. 700 crores recorded in the last fiscal.

The company is also in the process of finalising about Rs. 700 crore investment for 2003-04. Among the projects to be approved are: Rs. 125-150 crore bloom caster in Durgapur Steel. The plant's demand for investment in a wire rod mill, however, will not be considered. The proposal for a second ERW pipe mill in Bhilai Steel Plant will also be considered in the next fiscal.

At present, it sells only the GP/GC sheets under SAIL Jyoti brand name. Sources said that the company was gearing up to brand the TMT bars and wire rods this fiscal and structurals in the next fiscal. SAIL controls about 8-9 per cent of the 6.5 million tonne TMT market and a major player in the 3.5 million tonne structurals market.

According to company sources, it already introduced the branded TMT bars (SAIL TMT) which are selling at a premium of Rs. 400-500 a tonne. The project will contribute no less than Rs. 550 crores to the turnover of branded products.

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