SAIL NEARS ITS TARGETED 70,000 CRORE MODERNIZATION AND EXPANSION PLAN
India's largest steel manufacturer Steel Authority of India (SAIL) has been on a revamping spree for a while now. As a part of 70,000 crore modernization programme, it has already spent a huge amount on revamping of its plants. It has so far spent Rs. 64,542 which includes Rs. 2,324 in the first nine months
India's largest steel manufacturer Steel Authority of India (SAIL) has been on a revamping spree for a while now. As a part of 70,000 crore modernization programme, it has already spent a huge amount on revamping of its plants. It has so far spent Rs. 64,542 which includes Rs. 2,324 in the first nine months of the last fiscal year. The idea behind this spend is to increase the capacity of the plants to produce 21.4 million tonnes per annum (MTPA) in place of the existing capacity of 12.8 MTPA. The existing plants of Bhilai, Bokaro, Rourkela, Durgapur, Burnpur and special steel plant at Salem are on the modernization and expansion list. Whereas the expansion of Salem Steel, Rourkela, IISCO, Durgapur and Bokaro has been completed and they are delivering the revised production output. Although the timing of this 60 to 70% rise in production capacity has not been right as the industry is facing weakness on demand side.
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