New Delhi: PSU Maharatna Steel Authority of India Ltd (SAIL) is making plans to boost production at all its plants once the COVID-19 lockdown is lifted and the economy springs back to near-normal levels, Chairman Anil Kumar Chaudhary said on Wednesday.
“I strongly believe that the demand for steel will take off as the lockdown is lifted. Activities in manufacturing, construction and infrastructure sectors are bound to pick up substantially,” Chaudhary told media.
“Since the government is concerned over a slowdown in economic growth, activities in steel-consuming industries are bound to pick up which augurs well for the steel sector,” said Chaudhary.
During the lockdown which began on March 25, SAIL plants have been operating at half the normal levels. In the first stage, the company plans to enhance this to 75 per cent capacity and later synchronise the production with demand.
“On operations front, we will be scaling up production in line with the demand sentiments of the market which I am expecting will soon show green shoots post-lockdown. We are ready to resume our normal working as and when the situation allows us,” said Chaudhary.
Post-COVID, the businesses will reorganise their processes and operations across the countries and sectors, he added. The global shifting of manufacturing bases from China, the United States and Europe may take place gradually.
“Contactless working interfaces are gaining importance. E-commerce is also evolving fast and use of online platforms is gaining traction. Conventional businesses will also have takeaways from the current crisis which has impacted the overall business scenario,” said the SAIL Chairman.
