Essar expects to produce over 2 million tons this fiscal

Essar expects to produce over 2 million tons this fiscal

Indian steel maker Essar Steel Limited (ESL) stated that; unlike TISCO, SAIL and Ispat which anticipate to make production at overcapacity, they are expecting to work at full capacity of 2.4 million tons in the next fiscal year 2004/2005, adding that production for the current fiscal ending on March 31, 2004 is expected to be over 2 million tons. Besides, with an initial capacity of 500'000 tons, the commencement of the UK based Stemcor's cold rolling mill at their property at Hazira will increase consumption of hot rolled steel produced by ESL. In the second quarter ending on September 30, 2003 hot rolled coil production reached to 911'000 tons with a 13% increase over same quarter previous year.