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SAIL expansion

Bokaro, Jan. 19: Steel Authority of India Limited (SAIL) chairman C.S. Verma has said the company has pumped in Rs 40,000 crore, part of the targeted Rs 72,000 crore, for expansion and modernisation of its units to raise the output to 24 million tonnes (mt) from 14mt in two years.

“The entire modernisation and expansion will be completed in a phased manner at all the steel plants of SAIL, which aims to raise its capacity to 40mt per annum after about eight years, according to our 2020 vision document,” Verma told reporters here last evening.

He pointed out that Rs 10,500 crore would be spent in the raw material division, while Rs 56,000 crore will be invested in purchasing machinery for the expansion and modernisation.

 
 
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