PSU NEWS
SAIL lines up capex of Rs 7,500 crore for FY16
KOLKATA: SAIL has lined up a capex of Rs 7,500 crore for FY16 as part of its `Vision 2025`plan that aims to raise hot metal capacity to 50 million tonne in the next 10 years. SAIL`s optimism comes amidst a general sense of despondency in the domestic steel sector. Indian steel companies struggling to compete against imports have and received protection in form of a 20% safeguard duty on imports for 200 days.
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