Jan 12, 2007

SAIL to invest Rs 1,00,000cr, up capacity to 40MT

Steel Authority of India (SAIL) will invest over Rs 1,00,000 crore - higher than the combined investment of Rs 90,000 crore announced by global giants Mittal and Posco for India, Steel Minister Ram Vilas Paswan announced today.

Paswan said the investments will make SAIL a 40 million tonne company.SAIL is in the process of expanding capacity beyond 23 million tonne with an investment of Rs 39,433 crore in the first phase, which would be completed by 2010.S K Roongta, chairman, SAIL, however, said investment figures to expand to 40 million tonne were yet to be finalised by the board and is a directional plan for future expansion.

SAIL, which currently produces 14.6 million tonne, registered a growth of 6.4% in production during the third quarter.

Stocktrendz

No comments: