BSL mulling to produce Value added Steel to increase its market shares
Amidst facing various challenges Bokaro Steel Plant (BSL) a subsidiary unit of SAIL is eyeing to produce Value added Steel to increase its global as well as domestic market shares.
We are aiming at scaling the value added quality steel output at BSL in a bid to mitigate our previous year’s loss as well as establish profits, said Pawan Kumar Singh Chief Executive Officer (CEO) Bokaro Steel Plant.
“We are also on move to increase our global market shares as China and Korea are the main rivals in the path”, he added,
Addressing to the media persons at Bokaro Niwas Singh said, the year 2015-16 and 2016-17 was a very crucial year for the steel industries. ‘Although India remains a bright spot in terms of steel demand with a net positive growth; the global downturn remains a challenge for domestic steel markets along with high levels of imports especially from China’, he said adding “SAIL has also been significantly affected and incurred an unprecedented loss of Rs 4021 crore in 2015-16 while in the year loss recorded Rs 2833 crore.”
The BSL has been also significantly affected and incurred a loss of Rs 2100 crore in 2015-16 while in 2016-17 Rs 2833 crore, said Singh.
Now ‘Cost Control’ is the biggest challenge before us; in a bid to compete for market and to increase our global as well as domestic market share we will have to minimize our production cost, he said.