SAIL Plans To Boost Capacity By 15 MT In Phase 1
The state-owned steel manufacturer SAIL is all set to start working on a major expansion plan with the goal of adding 15 million more tonnes to its present 20 million tonnes per annum (MTPA) of steel production in the first phase.
Amarendu Prakash, the chairman of the company, confirmed with a news agency and said that the expansion drive has started and is going to increase production to 35 MT in the first phase.
He also informed that the company is presently working on detailed project reports (DPRs), so it is difficult to disclose particular numbers at this time. This pertains to the timetable and financial information for the expansion.
In response to a question regarding the financing strategy, Prakash siad that SAIL intends to finance the expansion using a combination of its own resources and outside funding. He underlined that the company will be in the market to get the required money, as the steel industry demands significant capital expenditures.
The growth effort goes beyond just raising the production capacity of steel. SAIL plans to improve logistical infrastructure and introduce new technologies for the delivery of completed goods and raw materials, as reported by a news agency.
Under the Ministry of Steel, the Steel Authority of India (SAIL) is responsible for overseeing five integrated and three specific steel facilities spread throughout the nation's several regions.
