Steel Authority of India is planning
to invest Rs.1lakh crore on raising its capacity from 14.6 million tpa to 40
million tpa by 2020. Out of the total investment, about Rs.40,000 crore has been
finalised by 2010.
SAIL had earlier announced scaling up
its capacity to 23.8 million tpa by 2010. However SAIL’s investment plans are
higher than the combined investment of Rs.92,000 crore announced by
Arcelor-Mittal and Korean steel major Posco. Posco is planning to set up a 12
million tpa integrated steel plant with an investment of Rs.52,000 crore, while
Arcelor-Mittal will investment Rs.40,000 crore on its India projects.
Mergers of public sector units like
Bharat Refractories, Maharashtra Elektrosmelt, and Neelanchal Ispat Nigam by
2007 will help SAIL achieve the production target.
Also See:
SAIL
to invest Rs.37,000 crore by FY09 (10-Jul-06)