SAIL spends Rs 64,562 crore for expansion, modernisation

A latest report by the government has said cumulative expenditure by SAIL (Steel Authority of India Ltd) for various modernisation and expansion packages till December 2016 has been Rs 64,562 crore.

This includes expenditure of Rs 2,324 crore during the financial year 2016-17 till December 2016.

In the ongoing modernisation and expansion, the crude steel capacity is being enhanced from 12.8 million tonnes per annum (MTPA) to 21.4 MTPA.

The expansion of its plants — Salem Steel, Rourkela, IISCO, Durgapur and Bokaro — has been completed, it said and added the new facilities are under operation and production ramp-up.

“Other facilities like ore handling plant part-A, 2nd sinter machine in sinter plant-3 and coke oven battery — 11 are in regular operation and balance facilities viz bar and rod mill, blast furnace-8, steel melting shop-III etc are at advanced stages of execution,” the report said.

Image Credit : static.dnaindia.com

Research Desk

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