Investment based on market dynamics
As part of the modernisation and expansion project, Steel Authority of India Limited (SAIL) has invested Rs.2,371 crore on a new Steel Melt Shop and enhance the capacity of Cold Rolling Mill at Salem Plant.
Giving this update, Steel Minister Dharmendra Pradhan in a written reply in parliament on 2 Dec 2019 that decision for improvement and development of infrastructure in mills depends on the companies’ financial position and market dynamics.
SAIL has modernized and expanded five integrated steel mills at Bhilai (Chhattisgarh), Bokaro (Jharkhand), Rourkela (Odisha), Durgapur (West Bengal) and Burnpur (West Bengal) as well as Special Steel Plant at Salem (Tamil Nadu).
This has increased crude steel capacity from 12.8 million tonne per annum (MTPA) to 21.4 MTPA. fiinews.com