Steel Authority of India (SAIL) to focus on product differentiation as the key to meet the stiff competition in the era of high over-capacities, said the P K Singh, Chairman of the steel major while interacting with employees at the Rourkela Steel Plant (RSP).
SAIL Director (Finance) Anil Chaudhary, Director (technical) Raman and CEO, RSP Ashwini Kumar were also part of the intensive interaction with the employees.
“In the present circumstances, only the best in the class will survive. At a time of high overcapacities across the world, product differentiation is the requirement of the hour and we have to match the best in quality, variety and standards,” said the Chairman on the current scenario in the steel industry.
The SAIL Chairman, who interacted with a cross section of around 700 employees, threw light on the current scenario in the steel industry and exhorted them that transformation of SAIL has begun and “Let us all be part of it”.
Singh further said, “Rourkela has one of the best workforces in the industry where the ramping up after modernization was achieved in one of the shortest times. These interactions are aimed at enthusing the collective to exploit full potential of installed technologies and manpower. In the current challenging times, company’s targets and priorities have to widely disseminate at all SAIL units.”
RSP, which boasts of a 4300 mm wide state-of-the-art New Plate Mill, has carved a name for itself as a unique producer of special grades of steels. This mill has the potential to capture demand from niche segments and be the desired choice for top consumers.
Stepping decisively in the direction of Make in India, the plant has teamed up with the Defence Metallurgical Research Laboratory (DMRL) and the Indian Navy to develop special grade DMR-249A steel plates for Indian Naval requirements.
SAIL charts turnaround strategy
SAIL has charted a roadmap to turn around. In an official statement, the public sector undertaking said it will set an Earnings before interest, tax, depreciation and amortization (EBITDA) target for the next two to three years.
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