SAIL production at 13.5 MT in fiscal 2012

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State-run Steel Authority of India on Sunday said its production in the 2011-12 fiscal stood at 13.5 million tonnes, up five per cent over the previous fiscal, on better capacity utilisation of its plants.

"Our capacity for the 2011-12 fiscal was at 13.5 million tonnes," SAIL chairman C.S. Verma told agencies.

With capacity utilisation at 116 per cent, SAIL's output was at 12.89 million tonnes in FY2010-11, a growth of two per cent over the previous fiscal.

A source in the company said the capacity utilisation was better in the 2011-12 fiscal and added the production would be much higher in current fiscal since two blast furnaces would start production before the end of March, 2013.

Verma had earlier said that company's manufacturing capacity would go up to 19 million tonnes next fiscal from 14 million tonnes now.

"Two blast furnaces will start production next fiscal. This will help us to raise our steel capacity to 19 MT from 14 MT now," Verma had said.

SAIL has embarked on a whopping Rs 72,000 crore expansion plan intending to take its steel-making capacity to 24 million tonnes by 2013-14.

The company also plans to further expand its capacity to 45 million tonnes by 2020.