Rs 37,000 cr to be spent on SAIL's expansion plan

New Delhi, May 6: The corporate plan of the public sector Steel Authority of india Limited (SAIL) has a tentative investment of Rs 37,000 crore towards expansion and modernization.

According to official sources, the schemes of individual steel plants are getting firmed up based on composite feasibility reports.

Eventually investment and proposed capacity is slated to go up compared to targets earlier envisaged. The tentative project investment based on feasibility reports will be known only after firming up of schemes by all the plants and their approval by the SAIL Board.

The share of alloy and special steel plants in the overall investment is tentatively about Rs 2200 crore.

To improve its market presence in the alloy and special steels market, SAIL has drawn out expansion plans for its special steels plants at Alloy Steel Plant (ASP), Salem Steel Plant (SSP) and Visvesvaraya Iron Steel Plant (VISL). After implementation of the plan, the total production of saleable steel from these units will increase from around 4.5 lakhs tonnes during 2006-07 to around 10 lakhs tonnes, the sources added.

UNI