SAIL to invest Rs. 50,000 cr for expansion

New Delhi: The Steel Authority of India plans to invest Rs 50,000 crore in increasing capacity by 10 million tones.

SAIL expects fourth quarter revenues to be better than last year's. Revenue growth this month is expected to be 9-10 per cent in line with that of February.

Demand from construction, automobiles and pipes and tubes sectors have helped sales pick up.

Addressing a press conference last month, the Minister Mr Ram Vilas Paswan had, however, announced plans to nearly double capacity to 26 million tonnes of hot metal by 2012 with an investment of Rs 78,000 crore.