In order to part fund for expansion, State-run Steel Authority of India (SAIL) is planning Rs 13,000 crore capex for next fiscal, which will take its installed capacity to over 24 million tonnes per annum (mtpa). The proposed investment of the company, which is lower by Rs 1,500 crore than the budgetary estimate for the current fiscal, will be funded from company's internal resources.
As part of ambitious expansion and modernisation plans, Steel behemoth, in total, has planned a capex of Rs 72,000 crore to raise its production capacity from 14 million tonnes per annum to 24 MTPA.
Out of the Rs 13,000 crore capex for next fiscal, Bhilai Steel Plant is proposed to get the highest share of allocation at Rs 5,900 crore for installation of a 700 tonnes per day (tpd) oxygen plant, a hot metal de-sulphurisation unit and a railway track, while Rs 2400 crore would be alloted for expansion and a 700 (TPD) oxygen plant and a coke for Rourkela Steel Plant, Rs 1,800 crore has been earmarked for expansion of SAIL's IISCO Steel Plant and rebuilding a coke oven battery.
Further, a sum of Rs 900 crore has been proposed to be spent towards capacity expansion at SAIL's Durgapur Steel Plant and installation of a steel processing unit at Kangra, while the Bokaro Steel Plant would get Rs 1,425 crore for expansion and setting up of a steel processing unit at Bettiah, the remaining amount of Rs 505 crore would be utilised for its raw material division, Central Units of the firm and Chandrapur Ferro Alloy Plant for various ongoing and new schemes.
