SAIL plans Rs 37,000 cr expansion

New Delhi, July 9 (UNI) Steel Authority of India (SAIL) will invest Rs 37,000 crore in the next three years and expand its production capacity from 14.5 million tonnes per year to 22.5 million tonnes over the next five years.

The decision came after the Minister for Chemicals and Fertilisers and Steel Ram Vilas Paswan reviewed the expansion plan and targets of SAIL here yesterday in the backdrop of the recently announced Indian investment plans of the global steel giants.

It was also decided that the timeline for the major part of the expansion process would be compressed from the original schedule of five years to around three years, a company statement said.

SAIL's expansion plan envisages an investment of Rs 9,000 crore at Bokaro Steel Plant, Rs 6,340 crore at Bhilai Steel Plant, Rs 4,590 crore at Rourkela Steel Plant and Rs 2,840 crore at Durgapur Steel Plant.

In addition, a major investment to the tune of Rs 9,600 crore has been envisaged in IISCO, and Rs 1,553 crore in Salem Steel Plant for modernisation, backward integration and expansion of rolling facilities.

The plan not only aims a near doubling of SAIL's production capacity, but also has other key components like sustainability of current steel production, quality enhancement, energy reduction and minimised environmental impact.

UNI PV ARB KN1712