“We are also trying to convert the old cryogenic tankers used for transporting nitrogen into tankers for transporting oxygen,” Oommen added.

The sale of construction steel hit 855,000 tonnes, a year-on-year surge of 17 percent. Exports of the item topped 147,000 tonnes, up 10 percent.

Nearly 7,000 tonnes of pipes were shipped to the US, Australia, and Canada during the period, a year-on-year rise of 31 percent.

India's primary steelmakers have increased their share of exports in Q4 amid rising international steel prices.

Hung Nghiep Formosa Ha Tinh took the second spot with output of 1.62 million tonnes, 20 percent lower than Hoa Phat.

“This will remove a major bottleneck in transportation of LMO to states. As on date, 1172 tankers are available for LMO, with the capacity 15900 MT,” the statement said.

The group has experience in large scale production, material resources and manufacturing. These factors have ensured high quality and reasonable prices for its cargo.

Steelmaker JSW Steel reported a 6% growth in the crude steel production of 4.19 million tonnes in the last quarter of the financial year 2021.