The Maharatna PSU said it has supplied reinforcement bars, structural steel and plates for a 8.5-km long priority stretch of the North-South Corridor of Lucknow Metro Rail which will operate in between Transport Nagar and Lucknow Charbagh Railway station and...
is ready to supply for the for the remaining stretch. On an overall basis, the state-owned steel company said it has supplied more than 3 lakh tonnes of steel for various metro construction projects across the country, including the upcoming ones.
Incidentally, Lucknow Metro Rail Corporation (LMRC) project is presently in two phases, of which the Phase I comprises of 22.8 km long North-South Corridor and an 11 km long Phase II forming the East-West Corridor.
"SAIL (Steel Authority of India Ltd) has supplied around 20,000 tonnes of steel for the 8.5 km long priority stretch of the North-South Corridor of Lucknow Metro Rail which will operate in between Transport Nagar and Lucknow Charbagh railway station," the PSU said in a statement.
SAIL has supplied reinforcement bars, structural steel and plates for this stretch and is ready to supply for the remaining stretch.
"SAIL has supplied more than 3 lakh tonnes of steel for India's different metro construction projects including the present and upcoming metro projects," it said.
Lucknow Metro Rail Corporation (LMRC) project is presently in two phases, of which the Phase I comprises of 22.8 km-long North-South corridor and an 11 km-long Phase II forming the East-West Corridor.
The PSU is expanding its product range and capacity to supply value added products, including both long and flat products like structurals, TMTs, wire rods, plates etc for infrastructure, construction, engineering, industrial segments.
SAIL has been supplying steel for construction of major projects of national importance, including the recently inaugurated Dhola-Sadiya Bridge, several metro projects at Delhi, Mumbai, Bangalore, Ahmedabad, major airports, country's longest road tunnel connecting Chenani-Nashri in J&K, for under construction projects like Polavaram multi- purpose irrigation project, Statue of Unity in Gujarat etc. SAIL is also actively entering into the ready to use steel products segment to establish last mile connectivity with customers and end consumers.
Earlier, SAIL has undertaken a company-wide transformational and turnaround programme, 'SAIL Uday', covering improvements for all functions in the plants and units.
"The company has engaged Boston Consulting Group (India) Pvt Ltd (BCG), as management consultant to study the present health of the company and suggest suitable measures for its turnaround," it said.
The PSU is planning to set an operating profit target for the next two to three years and has vowed to work towards optimising manpower utilisation, exploring ways to increase net sales realisation and reduce procurement costs, and improving branding and distribution efforts.
The efforts come after it posted yet another quarter of net losses. It incurred losses to the tune of Rs 801 crore in the three months through June from Rs 535 crore a year earlier. SAIL reported a loss of Rs 2,833 crore for the year ended March 31, 2017.
Chairman PK Singh, along with top officials discussed the imperatives and challenges before the PSU while interacting with its employees at the Bhilai Steel Plant.
According to the roadmap for revival, SAIL has decided to focus on prudent finance management to bring down finance costs, while targeting a reduction in operating cost of old and new assets and overhead expenditure. SAIL, which recently spent Rs 70,000 crore on modernisation and expansion and so is facing higher interest and depreciation charges, will give top priority to ramping up production from the new and modernised units. Completing work on the remaining projects at the earliest will be another focus area. Singh said the expansion of Indian Railways presents good prospects for SAIL and the Bhilai Steel Plant in particular, and it should be ready to cater to the entire demand of the railways. The state-of-the-art Universal Rail Mill established at a cost of about Rs 1,200 crore has taken the facility’s capacity to produce rails to 2 million tonnes per annum, the highest in a single location anywhere in the world.
The PSU's sales volume for the quarter at 3.02 mt rose 9 percent from a year earlier, while while total income went up 26 percent to Rs 12,860 crore and net sales realisation expanded 14 percent. But an over two-fold rise in its coal bill dented the overall margin.