SAIL to invest Rs 9500 cr in Burnpur plant

Kolkata, Nov 28 (UNI) Steel Authority of India (SAIL) would invest around Rs 9500-10,000 crore over 3-4 years to expand capacity at the Burnpur plant.

"We will expand capacity by 2.5 million tonnes in the plant," SAIL chairman S K Roongta told reporters on the sidelines of a Bengal Chamber of Commerce organised seminar on "Steel for Auto Components and Construction" here today.

SAIL has placed global tenders for the expansion work, Mr Roongta said.

He said the steel companies would have to closely partner with the auto industry and make massive investments in upgradation of mills and technology to meet the growing steel demand in auto sector.

The SAIL chairman said a lot needs to be done to increase of steel demand in construction.

Value added products like earthquake and corrosion resistant steel in construction would help the sector to grow, he said.

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