State-owned steelmaker, SAIL, expects to expand its production capacity to 18 Million Tonnes (MT) from existing 14 MT by the end of current financial year. Company from its Phase I capacity expansion target of 24MT, would be starting new blast furnaces. The company, which is in the midst of modernisation and capacity expansion so far, has spent about Rs 39,000 crore on capacity expansion, out of a targeted investment of Rs 72,000 crore.
Further, SAIL’s two new blast furnaces at its Rourkela and Burnpur plants will become operational in next few months. Besides, the company would also be commissioning a new cold rolling mill at Bokaro plant by the fiscal end.
Moreover, the steelmaker, which is aiming to increase its market share up to 30 percent by 2020, will be expanding its capacity to 45 MT by then.
