TRANSFORMATION

STRATEGY
 SAIL TRANSFORMATION STRATEGY SAIL TRANSFORMATION STRATEGY

MESSAGE

Considering existing scenario and available opportunities, SAIL

ANIL KUMAR CHAUDHARY
Chairman
SAIL, the Maharatna CPSE, during its more than sixty years of
existence, has proved its mettle time and again. It has evolved
continuously and remains a strong, resilient and trustworthy
steelmaker to the Nation.
The Indian Steel Industry is on the verge of expansion and is
poised to reach a level of 300 MTPA by 2030. The clarion calls given
by the Hon’ble Prime Minister for building “Atmanirbhar Bharat”,
“Vocal for Local” and “Make in India with Make for World” present
an extensive scope to the Industry for domestic consumption and
also becoming a major player in global value chain.
needs to reorient its strategies in pursuit of its Vision statement.
It has to focus on overall improvement of its human capability,
raw materials, plant operations, logistics & infrastructure, sales
& marketing, cost control, research & development, etc.
Recognizing the importance of the same, the SAIL Board has
taken the decision to prioritize SAIL’s activities under three
categories viz., Enhancing Human Capability, Reduction in
Production Cost and Improvement in Sales Volume & Net Sales
Realization (NSR).
The actionable points under these focus areas have been
carefully crafted and chart a clear roadmap to make SAIL future
ready. This booklet encapsulates various aspects of SAIL’s
Transformation Strategy and I am confident that it will serve as a
guiding force in the coming times.

Steel Industry is highly capital intensive and subjected to

business cyclicality more often than other industries. This takes
a heavy toll on profitability as well as liquidity which requires
extra efforts to guard against volatilities of the market. Here,
strategic intervention and consistent upgradation of the (Anil Kumar Chaudhary)
technologies, products and processes play a crucial role during 21 December, 2020
challenging times.
 VISION TABLE OF CONTENTS
To be a respected world class corporation and the leader in Indian steel
business in quality, productivity, profitability and customer satisfaction.
PRELUDE 1

THE CONTEXT 3

CREDO THE STRATEGY 5

We build lasting relationships with customers based on trust and mutual benefit.
We uphold highest ethical standards in conduct of our business. ENHANCING HUMAN CAPABILITY 7
We create and nurture a culture that supports flexibility, learning and is proactive to change.
We chart a challenging career for employees with opportunities for advancement and rewards. REDUCTION IN PRODUCTION COST 11
We value the opportunity and responsibility to make a meaningful difference in people's lives.

IMPROVEMENT IN SALES VOLUME

& NET SALES REALIZATION (NSR) 17

SAIL VISION 2030 : A SNAPSHOT 23

 SAIL TRANSFORMATION STRATEGY
PRELUDE
The Indian Steel Industry has a long history dating back to the
Nineteenth Century. Post-independence, realizing the
importance of steel in providing the backbone for the socio-
economic development of the Country, Government of India put
emphasis on increasing the production, which led to the setting
up of plants at Rourkela, Bhilai and Durgapur under the control
of the then newly formed Hindustan Steel Limited (HSL).
The corporate reforms in further decades paved the way for the
formation of a new holding company in 1973 by taking over HSL,
Bokaro Steel Plant, Salem Steel Plant and the Alloy Steels Plant.
This was the birth of Steel Authority of India Limited with
majority shareholding with the Government of India, which is at
75% as on date. Currently SAIL is operating five Integrated Steel
Plants at Bhilai, Durgapur, Rourkela, Bokaro and Burnpur with
Special Steel Plants at Salem, Durgapur and Bhadravati.
Over the decades SAIL has gone from strength to strength to
become a leading steel producer in India and was ranked 20 in
th
Crude Steel Production globally (WSA 2019 rankings). Post the
Modernization and Expansion Plan (MEP) it has a Crude Steel
capacity of around 21 MTPA with the widest range of steel products
amongst all Indian manufacturers. SAIL has a pan India presence
with a Marketing & Distribution Network comprising of 37
Branches, 45 Warehouses, 10 Customer Contact Offices & around
2800 Dealers. SAIL's International Trade Divison (ITD) caters to the
requirement of customers spread across various countries.
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SAIL TRANSFORMATION STRATEGY
In the last fiscal SAIL, with 13 operating mines, became the
largest miner in the Country for supply of input materials for
Iron & Steel. SAIL also has the distinction of having the largest
Ferrous Metallurgy R&D Centre for Steel in India, an In-house
Consultancy & Design unit and a dedicated Management
Training Institute for senior executives. SAIL also has a refractory
production unit called SAIL Refractory Unit (SRU) and a Ferro
Alloys Plant at Chandrapur.
As the economy moves towards development, there is a spate of
activities in sectors like manufacturing, infrastructure,
urbanisation, etc. This prompts the increase in usage of steel
which in turn further boosts the economy. Thus, GDP of the
Nation and the growth of the steel industry are found to be
strongly correlated.
Steel is synonymous to strength and reliability and hence use of
steel is seen in privately owned things like houses, furniture,
utensils, vehicles or public property like railways, buses, bridges,
roads, dams, power plants, etc. The universal usage of steel in
everybody’s life prompted SAIL to coin the hugely popular tag
line “There is a little bit of SAIL in everybody’s life”.
 SAIL TRANSFORMATION STRATEGY
THE CONTEXT
Over the years, the Indian Steel Industry has made full utilisation
of the resources available in the Country and India has steadily
risen on the list of top steel producing nations. The finished steel
production of the Country which stood at a mere 1.1 MT during
1951 rose to 31.63 MT by 2001-02. Thereafter, the next two
decades have seen the production scale up and cross the 100
MT mark. With finished steel production of ~102 MT in FY 2019-
20, India sits pretty at the second position amongst the top steel
producing nations.
Setting up of SAIL was one of the major cornerstones in the
history of Indian Steel Industry. The time period before the
Liberalization, Privatization & Globalization (LPG) era saw SAIL
as the sole driver of the growth in steel production in the
Country. Thereafter, with the economy opening up for greater
participation from the private sector, steel industry also
witnessed the emergence of new players and hence greater
competition.
During this period, SAIL has tried to live up to the expectation by
reinventing its business processes, expanding its horizons,
adopting global practices, etc. While some of these measures
have provided us flashes of brilliance and brought us occasional
laurels, SAIL needs to improve further to achieve consistently
superior performance in production, techno-economic indices,
quality and customer service.
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SAIL TRANSFORMATION STRATEGY
With the scale of production raised to unprecedented levels by
China, global competition to capture available market space has
seen the customers becoming more aware and selective
regarding quality, delivery and price to meet their stringent
demand criteria. It is, therefore, imperative for SAIL to transform
itself to be able to meet the challenges of volume, quality and
service to retain and expand its customer base.
Fluctuation in SAIL’s profitability, in the past, has often been
attributed to the volatility in the market but while that may be
partially true, there is an immediate need to reassess and find
the real reasons for our lower performance in order to learn
from them for taking corrective measures. SAIL needs to
perform consistently in all areas and make itself fundamentally
strong to reduce dependence on favourable markets to be
profitable.
This is the time to instil a sense of urgency in all our employees,
partners and stakeholders for participating in and contributing
to the transformation of SAIL to beat the competition today and
be prepared to meet the challenges of the future. The focus
must therefore be on Human Capital Motivation, Cost
Leadership (through Production to Capacity & beyond,
Consistency in Operation & Inter Process Optimization), Market
Leadership and Global Orientation.
It is with this background that the need for evolving a strategy for
sustainable profitability and growth was felt.
 SAIL TRANSFORMATION STRATEGY SAIL TRANSFORMATION STRATEGY

THE STRATEGY

In moving towards becoming a truly world class organization, Country. With most of these facilities now in different stages of
self-belief and confidence in our capabilities and abilities will ramping up and stabilization, the onus is on us to perform.
play a big role. While acknowledging our shortcomings, we must
Keeping all these factors in view, a series of discussions were
also recognise our potential. The proposed strategy shall serve
held with the Functional Directors, CEOs and other Key
as our guiding path in leading us to achieve our aspirational
Personnel to develop a draft strategy for discussion in the
goals. In order to ensure that we succeed, we need to believe in
Board. Based on discussions in its 472nd meeting held on 31st July,
ourselves and move relentlessly on that path.
2020, SAIL Board approved the multi-pronged strategy in three
SAIL takes pride in the fact that it has been one of the major major areas for enhancing performance of the Company:
contributors in the Nation building. We have been and will a) Enhancing Human Capability
remain the Nation’s most trusted partner when it comes to
b) Reduction in Production Cost and
serving the requirement of quality steel for projects of strategic
or National importance. Our contribution in the fields of c) Improvement in Sales Volume and Net Sales Realization (NSR)
infrastructure, defence, railways, transportation, space
Focussed efforts, in all the above areas, will help SAIL in
programmes, power, oil & gas, etc. is unparalleled.
achieving its vision “To be a Respected World Class Corporation
There is an immense opportunity before us and we must and the Leader in Indian Steel Business in Quality, Productivity,
commit ourselves to make full use of the same. Though India is Profitability and Customer Satisfaction”.
the second largest consumer of steel behind China, the per
capita consumption at ~74 kg/annum is way below the global
level of ~229 kg/annum. This provides a major opportunity to
further boost the consumption in the Country.

On the facilities front relating to the ability to produce, the

completion of the latest massive Modernisation and Expansion
Plan (MEP), undertaken at 5 ISPs, SSP and its mines to capture
the growing domestic and international demand, has increased
our crude steel capacity to ~ 21 MT, maximum within the

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SAIL TRANSFORMATION STRATEGY SAIL TRANSFORMATION STRATEGY

As the controlling factor for all other resources, the human

capital forms the most important part in the strategy towards
performance improvement - be it cost reduction, efficiency
improvement, volume growth or increase in revenues. In a
nutshell, employees of an organisation are the drivers for that
organisation. SAIL, with its manpower of ~68000 has all the more
reason to place emphasis on enhancing the performance and
productivity of its human capital. Accordingly, the current
strategy also seeks to work in this direction on top priority.
SAIL envisages achieving a production level of 50 MT Crude Steel
by the year 2030 with projected manpower strength of 62,000
and targeted Labour Productivity (LP) of 1100 TCS/Man/Year as
against the current level of ~400 TCS/Man/Year. Towards this
goal, the Company aims to improve its age-mix, inter-
departmental ratios, etc. The underlying mandate for HR is to
make available the right talent in right numbers at the most
economical cost.

In order to meaningfully reap the benefits of future business

plans of the Company, the HR strategy of SAIL needs to be
repositioned in such a way that employee performance has direct
and measurable linkage with organizational goals. Multi-pronged
approach focusing upon optimum intake in critical/statutory
positions, effective utilization of existing employees through re-
training, redeployment and leveraging technology for efficient
delivery of HR services need to be adopted. Some of the
suggested actions in this regard are as under:-

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A. Manpower availability:
• Detailed study of manpower required in each department,
section, floor, shop, etc.
• Redeployment of existing manpower.
• Recruitment based on Zero Based Budgeting and the desired
qualification.
• Outsourcing non-core activities to domain experts (Township,
Hospitals, Schools, etc.)
• Integrating technology towards automation of processes/systems
to save on time and cost and also improving the quality of work.
• Advance manpower planning in case of projects.
B. Holistic Talent Management / Employee Engagement &
Retention Initiatives:
• Succession Planning for leadership positions
• Policy changes for correcting the organisation structure
• Realigning the KPA with organizational goals
• Career progression along with compulsory linkage to Learning
& Development
• Showcasing individuals/groups who contribute in upholding
organizational values
• Refresher Training for enhancing productivity of employees in
their own areas and redeployment of manpower in other areas
• Exposure to newer technologies and other steel plants
• Fostering of Safe and Congenial Work environment along with
occupational health care
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SAIL TRANSFORMATION STRATEGY
C. Improving Labour Productivity for Reducing Manpower
Cost:
• Limiting Recruitment Budget under Human Resource Plan to
critical/statutory posts for next few years.
• Utilizing full potential of existing skill sets and re-skilling of
existing talent pool to fit well with newer technologies. Lateral
recruitment for specialized skills / experience.
• Introduce new variants of Voluntary Retirement Scheme and
Sabbatical Scheme to reduce exit cost.
• Framework for reduced working hours, especially for Non-
Works areas, at reduced remuneration.
• Explore feasibility of enhancing the performance linked
variable component in salary/wage package of employees to
encourage better performance.
• Contractual engagements for specialized skills.
• Periodic review of employees for ensuring probity and efficacy
• Centralization of service functions-Personnel, Finance,
Materials Management, Internal Audit, IT, etc. at key locations
for strengthening and streamlining systems.
• Systemic improvements like review of Standard Operating
Practices(SoP), restrictive work practices and avoidance of
duplication of business processes
SAIL TRANSFORMATION STRATEGY SAIL TRANSFORMATION STRATEGY

Reduction in Production Cost is one of the key areas where SAIL

has to benchmark with its competitors since overall higher cost
of production is a reason of major concern. In spite of having
advantage of captive mines for iron ore and flux, the variable
cost of production in SAIL is comparable with peers mainly on
account of operational efficiencies, which need to be improved
along with Techno-economic Parameters. On the fixed cost
front, specific measures need to be taken for reducing the
employees cost and borrowings to bring down finance cost to a
reasonable range. While action points regarding rationalization
of manpower cost and increasing labour productivity have been
enumerated earlier, measures to be taken towards efficiency
improvement, better Techno-economic Parameters, lower
consumption of inputs and reduction in procurement cost
towards bringing down production cost are as given under:

A. Increasing the Scale of Operation:

• Ramping up the production volumes to capacities, from new
as well as old facilities, for minimum incurrence of fixed cost
per tonne.
• Operating minimum facilities to capacity rather than all facilities
at sub-optimal level.
• Regulating the production in line with market demand and
NCO (i.e. not covered by orders) is to be minimized for avoiding
inventory pile up.
• Increasing proportion of finished steel / value added products.

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 SAIL TRANSFORMATION STRATEGY
B. Improving Operational Efficiencies:
• Optimization of Coal Blend to attain lower cost of BF coke while
maintaining coke properties.
• Reduction in specific consumption of inputs including coal,
iron ore, fluxes, power, ferro-alloys, specific energy,
refractories, water, etc.
• Substituting high cost inputs with low cost ones like hard
coking coal with soft coking coal, BF coke with PCI, steel scrap
with iron ore lump, etc.
• Improving Techno-economic Parameters like Coal to Hot Metal
Ratio, Coke Rate, CDI Injection Rate, BF Productivity, TMI in
SMS, Rolling Hours and Consumption of power, energy,
refractories, fluxes, water, ferro alloys etc.
• Increasing the yield at every stage of process i.e. Coke at COB,
HM at BF, Crude Steel at SMS, finished steel at Rolling Mills, etc.
• Ensuring higher equipment availability and reliability through
improved maintenance practices.
C.Adoption of New / Better Technologies:
• Setting up of beneficiation and pelletisation facilities for
utilization of sub grade iron ore as well as improving quality of
input.
• Installation of Stamp Charged Batteries in all forthcoming COB
complexes.
• Increasing prepared burden.
• Development of new/higher grades of steel like Electric Steel,
Auto Body Sheets, API X70 & above etc. from existing / new
facilities.
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SAIL TRANSFORMATION STRATEGY
• Harnessing the full potential of RDCIS for basic research as well
as process improvement and products development while
moving towards energy efficient environment friendly green
steel making.
• Use of Data Analytics and AI based solutions for improvement
in production process and maintenance monitoring as also for
reduction in rejections.
D. Optimizing Project Cost Impact:
Prioritization and timely implementation of capital projects plays
an important role in maintaining or enhancing profitability. A
significant portion of the decline in profitability of SAIL can be
attributed to inefficient project implementation.
Once a project is completed and put into operation, depreciation
cost and interest burden of the new facility get immediately
loaded on the fixed cost of the Company. Additionally, a partly
completed projects lead to inefficient production performance,
which adversely impacts techno-economics, variable cost and
thereby profitability. SAIL plants will have to come out of the
paradigm of commissioning minima and ensure that all facilities
are complete before starting production.
Poor project implementation, therefore, does not auger well for
any Company and is certainly not sustainable, especially when
our peers are steadily gaining competitive edge by expanding
capacities and ushering in efficient technologies for reducing
cost and adding to their product basket for catering to expanding
market demand.
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 SAIL TRANSFORMATION STRATEGY
In the context of the plan to reach 50 MT as per Vision 2030, it is
imperative that SAIL adopts a sound strategy for projects
selection and effective implementation for timely realization of
the envisaged benefits. For ensuring optimum allocation and
proper utilization of capital funds, the following salient action
points are important:
i) Rolling Plan in line with the Corporate Plan : Unit-wise
prioritised Rolling Plan of projects is to be finalised in line with
the Corporate Plan with a view to prioritise and implement
projects with maximum value and minimum payback period
within the limited funds. The plans must be continuously
reviewed based on the dynamic market conditions and
financial scenario of the Company.
ii) Comprehensive Revision of Standard Bidding Document
(SBD) : Review and Revision of SBD needs to be done in line
with experience gained from last phase of MEP and
implementation of other capital projects. This would pave
the way for optimizing the cost of capital projects.
iii) Engaging Project Management Consultant (PMC) for High
Value Projects: Appointing a dedicated PMC, selected on
QCBS basis, would facilitate effective project implementation
and help in mitigating time and cost overrun. Association
with such PMC would also help in building project
management capability of SAIL’s project group.
iv) Use of advanced IT based Project Management Tools: for
planning and monitoring of projects.
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SAIL TRANSFORMATION STRATEGY
v) Projects on BOO/BOOT/JV basis: Projects taken-up in these
modes would require nil or minimal initial outflow towards
capital investment. Also, Operation and Maintenance of the
facilities would be taken care of by the contractor who
deploys skilled manpower at lesser cost.
vi) O&M to be a part of the Contract on Extendable Basis: For
EPC contracts, making O&M for initial years of operation a
part of the contract would result in better maintenance of the
equipment and quick ramping-up of facilities.
vii) Technology Transfers from Reputed Players in the Market:
Better technologies available in the market can be purchased
for the projects which are repetitive in nature in order to
avoid repetitive build-up of Design and Engineering cost.
viii)Strengthening Centre for Engineering & Technology (CET)
along with induction of back up technical consultant of world
repute.
E. Other Cost Control Measures:
• Maximization of power generation from in-house facilities
• Solid Waste Management – Gainful Utilization of Microfines
and Solid Waste through Micro-Pelletization and Briquetting.
• Better Housekeeping and Waste Recovery. Maximise waste
recycling like BOF Slag and BOF Sludge in Sinter mix.
• Quick start and ramp up of projects to recover capital related
charges.
• Liquidation of non-prime inventory through plant sales/melting
thereby reducing the working capital requirement and interest
burden.
• Product basket to be as per the market demand.
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SAIL TRANSFORMATION STRATEGY SAIL TRANSFORMATION STRATEGY

The marketing front has always been challenging as it carries the

element of external influence and controlling the prices in
general is beyond the control of any single organisation
including SAIL. However, there are number of initiatives which
can be undertaken to counter market volatility. The available
basket is currently having high proportion of semis and garden
variety material which needs to be converted into higher
proportion of finished steel, with niche high value products and
wider product mix, to increase NSR. Strategy in this Chapter
identifies a number of initiatives like up-gradation of entire value
chain including products, marketing channels, logistics,
branding, advertising, service parameters, etc. in order to realize
the potential of the market to fullest extent

A. Enhancing Quality– Product & Product Mix Improvement

• Widening of product basket, increase production of Value
Added and Special Grades and focus on Downstream
Products
• BSL - Drums & Barrel grade CR, Thinner CR/GP, Colour Coated
Steel
• RSP – NPM : High Tensile Plates, APIX70; SPP : Plates for
Defence Sector
• BSP –URM : Heat Treated Rails; RSM : Asymmetric Rails; PM :
Boiler Quality Plates; BRM : SeQR TMT, EQNR, HC, CAQ, CHQ,
SAE1006 grade WRC

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 SAIL TRANSFORMATION STRATEGY
• ISP –WRM : EQNR, HC, CAQ, CHQ, SAE1006 grade WRC; BRM :
SeQR, HCR TMT ; USM : E350 and above grade Structural
• DSP-Cast Rounds, Special grade Semis ; MSM : E350 & above
grade Structural
• SSP – Duplex/Super Duplex Stainless Steel, Salem Steel Blade
Steel (SSBS) 440B, SS441, 409L, 420S1, 420S2, Slip free and 2J
finish steel
• ASP – Auto grade Rounds
• Target Segment wise sales – Pre Engineered Building (PEB),
Drum & Barrel, Automotive, White Goods, Infrastructure, Oil
& Gas, etc.
• Banish value destroyers like improper packaging/ handling,
uncertain lead time, generation of NCOs, quality issues, etc.
• Selling quality products beyond BIS –as per requirement of
customers-international certifications for benchmarking
• Meeting customers’ requirements on tolerances, size grade
mix, thickness requirements in HR, CR, GP, Plates, etc.
• Quick Commercialisation of new products continually with
proper protocol – API X-70 Plates, HR Coils, etc.
B. Channel Improvement
• Nurturing Key Account Customers – To keep high value and
strategically important customers within folds of SAIL.
• Developing Mid-Size Accounts (MSAs) – To increase consumer
base.
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SAIL TRANSFORMATION STRATEGY
• Developing 1-Tier Distribution network for B2B products in
major consumption centres - reduction in dependency on
Trade.
• Strengthening 2-Tier Distribution Network for B2C products
like TMT, GC Sheets - Increase penetration in Retail Segment,
etc.
• Online portal for sale of TMT.
• Enhance sales in high NSR geographical zones
• Thrust on exports. Appointment of Commercial Agent in
countries with potentially high sales volume e.g. Middle East.
C. Logistics and Supply Chain Management
• Substitution of rail movement by augmenting road
dispatches in economic freight zones
• Hub and Spoke Model in warehouses for distribution of
materials across the Country
• Formulating Multi Modal Logistics including combination of
Rail / Road / Inland Waterways / Coastal Movement based on
cost economics
• Optimum stocks at warehouses to cater to the requirement of
small and medium customers and off the shelf requirement
of market.
• Debottleneck rail movement and port operations to handle
export volumes
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 SAIL TRANSFORMATION STRATEGY SAIL TRANSFORMATION STRATEGY

D. Enhancing Service Levels F. Maximising Reliability through Digitisation

• Development of Service Centres – for supply of customized
products like Pre-fabricated Structural, Cutting & Slitting of
HR/CR Products, Hollow sections, etc.
• Augmenting Conversion / Wet Leasing facilities – To convert
semis into finished products like TMT, Structurals, etc.
• Last Mile Connectivity - Aiming for 100% door delivery to
customers from Plants/Warehouses in case of road
dispatches.
• Handholding of Customers/Dealers/Distributors – Avail
services of Consultants, Architects, Structural Engineers,
Designers, etc. for steel intensive structures, construction
support, strengthening retail network, etc.
• Utilization of surplus land in Plants/Warehouses for setting up
Value Added facilities on JV/BOO Basis/ Contract, etc.
• Timely realisation of Trade Receivables, particularly those with
no interest.
• Use of data analytics, AI for decisions on optimum production
based order booking, supply chain improvement including
inventory holding decisions, required services based on
customer feedback, etc.
• Creation of one virtual service chain having instant & uniform
information of order & production status of all plants at a time
• Product identification and increased automation in
warehouses.
• Interactive customer portal for information on order, services,
inventory, etc.

E. Branding and Advertising

• Formulation of structured branding plan to popularize the
existing brands like TMT-SeQR, NEX Structurals, etc.
• Plan for Branding of new products like CR, Pipes, HR
Coils/Plates from RSP new HSM etc.
• Corporate branding on all India basis and selective
dealership/product branding in catchment area.

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 SAIL TRANSFORMATION STRATEGY SAIL TRANSFORMATION STRATEGY

SAIL Vision 2030 : A Snapshot

Potential Capacity
NOTES
Unit: Million Capacity Phase-I Capacity Phase-II
Tonne before Phase - I expansion

Hot Crude Sal. Hot Crude Sal. Hot Crude Sal.

Metal Steel Steel Metal Steel Steel Metal Steel Steel

BSP 7.5 7.0 6.6 7.5 7.0 6.6 12.2 12.0 11.5

DSP 2.8 2.5 2.4 8.0 7.5 7.3 8.0 7.5 7.3

RSP 4.5 3.7 3.5 9.3 8.8 8.2 9.3 8.8 8.2

BSL 5.3 5.0 4.7 10.0 9.5 9.1 14.7 14.0 13.5

ISP 2.7 2.5 2.4 4.9 3.0 2.9 9.9 7.3 7.2
SAIL
(5 ISPs) 22.8 20.7 19.6 39.7 35.8 34.0 54.1 49.6 47.7

SAIL Vision 2030 : A Snapshot

Vision 2030 of SAIL is directional in nature and subject to revision

periodically. The Plan would be converted into projects for
implementation by carrying out DPR and other project related
studies. The plan is based on 3 basic assumptions – growth of
domestic steel consumption at 7.5% CAGR for next 12 years, 100%
integration in captive iron ore, and sufficient internal generation
of resources so as to maintain debt to equity ratio of 1:1.

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NOTES

SAIL Steel
Transforming
India
www.sail.co.in @SAILsteelofficial @SAILsteel @steelauthority