SAIL expects sales to grow despite slowdown

March 26th, 2009 - 6:07 pm ICT by IANS  

New Delhi, March 26 (IANS) The state-run Steel Authority India (SAIL) expects its sales to grow in March despite the current slowdown, saying it would be close to the month before.
“In February we grew by 9-10 percent. We expect the growth in March to be close to that,” SAIL chairman S.K. Roongta told reporters on the sidelines of an annual conference organised by the Confederation of Indian Industry (CII).

This growth will be led by demand from the automobile and construction sector, Roongta said.

The SAIL chief also said the global economic slowdown will not impact the company’s massive investment plans.

“SAIL is putting Rs.50,000 crore to add 10 million tonnes of capacity and we have decided not to slow down. We are going ahead with this investment,” Roongta said.

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