State-run Steel Authority of India Ltd (SAIL) has lowered its production capacity target by over 10% to 23.46 million tonne per annum (mtpa) as against earlier announced 26.18 million tonnes by 2011-12. The company will invest Rs 59,900 crore for the expansion.
The current installed production capacity of the company is about 14 million tonne per annum. The state-owned company also plans to ramp up its crude steel and saleable steel output to 21.40 million tonne and 20.23 million tonne, respectively. SAIL was earlier planning to increase crude steel and saleable steel to 24.59 million tonne and 23.13 million tonne, respectively by 2012.
The company said that the demand for long products remains weak. The company may cut prices of long products, depending on demand, and doesn't expect to increase prices of long and flat products in August.
crackcrackCompany Name | CMP |
---|---|
JSW Steel | 923.75 |
Tata Steel | 174.30 |
SAIL | 174.20 |
Jindal Stainless | 701.10 |
APL Apollo Tubes | 1717.00 |
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