ArcelorMittal Nippon Steel India attained record production in the financial year 2020 ending March 31. The crude steel production increased by 5 percent in 2019-20 at 7.23 million tonnes as compared to 6.92 million tonnes in FY 2018-19.
Pellet production increased by 9.4% to 11.63 million tonne during FY 2019-20 from 10.63 million tonnes in the previous fiscal.
ArcelorMittal Nippon Steel India CEO Mr. Dilip Oommen said “Despite price and demand volatility, ArcelorMittal Nippon Steel made strides to improve overall performance and operational efficiency. Our record production would have been even stronger if not for the Covid-19 impact on domestic and global steel demand towards the end of March.”
He added “Our efforts have focused on ensuring that our facilities operate safely and securely. We have undertaken steps to achieve stability in our operations, as well as detailed planning so that we are well-prepared to ramp up operations when the situation improves, while also protecting employees and meeting customer needs”.
The company’s blast furnace had also set up a new benchmark in productivity during the year through in-house innovation, which enabled it to operate consistently over its rated capacity.
Source: The Economic Times
