PSU NEWS
SAIL on Major Expansion Drive
NEW DELHI: The country’s largest steel producer SAIL will invest over Rs 10,200
crore on mine development as the domestic steel giant embarks on a modernisation
and expansion programme.
The Maharatna PSU’s modernisation and expansion drive is to enhance its steel
production capacity from 12.8 million tonne per annum (MTPA) to 21.4 MTPA at an
indicative investment of Rs 61,870 crore, Minister of State for Steel Vishnu Deo
Sai said here on Wednesday.
The programme is being undertaken at the SAIL’s facilities in Bhilai, Bokaro,
Rourkela, Durgapur and Burnpur as well as the special steel plant at Salem.
“Besides, a provision of Rs 10,264 crore has also been made towards investment in
mines,” the minister said.
In 2014-15 also with a capacity of about 110 million tonne, the country produced
around 91.45 million tonne of finished steel with an apparent consumption of about
76.99 million tonne.
India has witnessed about 75.5 per cent increase year-on-year in imports of total
steel in 2014-15 and about 24 per cent increase during April 2015-January 2016.
“The jump in imports is largely on account of global steel glut. Due to this
reason, steel is being exported by China and other countries, often at below cost
of production.Further, a small quantity of high quality steel, not manufactured
locally, are also imported,” he added.
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