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Minister clarifies that Govt not investing in SAIL capacity expansion
The Indian steel production increased to 154.062 million tonnes (MT) of crude steel in 2021-22 from 143.914 MT in 2020-21 and 142.299 MT in 2019-20, Minister of State for Steel and Rural Development Faggan Singh Kulaste said in a written reply in Lok Sabha on 14 Dec 2022.
As per National Steel Policy, 2017, the Government has set a target of having 300 million tonne production capacity of crude steel for the whole steel industry in the country, and not for Steel Authority of India Limited (SAIL) alone, he pointed out.
The current crude steel production capacity of Steel Authority of India Limited (SAIL) is 20.63 million tonne per annum.
He also made it clear that the Government does not invest in SAIL for Modernisation and Expansion Programme. The expenditure is met by SAIL through internal resources and borrowings. fiinews.com
