State-run Steel Authority of India Ltd (SAIL) sees “product differentiation” as a key strategy to survive in the competitive market, its chairman PK Singh said on Friday.
“In the present circumstances, only the best in the class will survive. At a time of high over capacities across the world, product differentiation is the requirement of the hour and we have to match the best in quality, variety and standards,” he said, after visiting its Rourkela Steel Plant (RSP) which boasts of a 4,300 mm new plate mill.
This mill has the potential to capture demand from niche segments and the plant has teamed up with the Defence Metallurgical Research Laboratory (DMRL) and the Indian Navy to develop special grade steel plates for naval requirements.
The steel producer said new plate mill along with special plate plant have created unique facilities for making of special grades steels for defence applications thereby “increasing the capacity of quenched, tempered plates with desired ballistic qualities”.