SAIL to invest Rs. 1.50 lakh cr by 2026

India's largest steelmaker Steel Authority of India Ltd. (SAIL) plans to invest Rs. 1.50 lakh crore by 2025-26 to increase the production capacity at its five integrated plants from 23.5 million tonnes per annum (mtpa) to 50 mtpa.

The Maharatna company, with a turnover of nearly Rs. 50,000 crore, is awaiting the Government's decision regarding its proposal to set up a body, on the lines of Power Finance Corporation (PFC), to help finance SAIL's targets, Chandra Shekhar Verma, Chairman and Managing Director, told BusinessLine on the sidelines of Global Steel 2014, the Ninth International Conference on Steel and Steel-Making Raw Materials, that concluded recently.

The two-day event was organised by Gujarat NRE Coke Ltd.

On average, India will have to invest $1 billion to increase steel production capacity by 1 mtpa, 60 per cent of which would go into establishing plant machinery.


HBL