SAIL revises its capacity expansion target to 25 mln tonne by 2010

New Delhi, May 28 (UNI) Public Sector Steel Authority of India Ltd (SAIL) will increase its installed capacity to 24.98 million tonnes (MT) by 2010, from the current level of 13 MT.

Initially, the expansion plan of the company was to raise its capacity to 22.5 MT by 2010 with an investment of Rs 37,000 crore. The revised estimate for the higher installed capacity along with the ongoing programme has been pegged at Rs 43,000 crore.

Reviewing the progress of the expansion plan of SAIL here today, the Minister for Steel, Ram Vilas Paswan urged the top management of the company to implement the programme on time.

He also asked the Chairman to come up with a revised schedule for implementing the expansion plan within two days. The Minister said responsibility should be fixed for any kind of delay at different stages and action may be taken.

The Secretary, Ministry of Steel, was asked to review the progress in the first week of each month. There would be further reviews following the deadlines for important milestones with a six monthly appraisal, said Mr Paswan.

Officials not meeting the deadlines will be held responsible and action will be taken.

The Steel Minister asked SAIL to avoid delay in the execution of the programme which costs the exchequer substantially.

He said, economic progress had thrown up a great opportunity to create a solid base for the steel sector and the opportunity will be lost unless timely action is taken.

The Board of Directors of the Navaratna PSUs like SAIL have been given autonomy to take decisions and if there are any procedural snags, it may be taken up with the CVC, he said.

SAIL Chairman S K Roongta made a presentation on the progress of the expansion programme and explained the difficulties faced.

Secretary, Ministry of Steel, R S Pandey, Special Secretary A K Rath and other senior officials were present during the review.

UNI