In a bid to expand capacity of its Gua iron ore mine and setting up of beneficiation and pellet plants in Jharkhand, Steel Authority of India (SAIL) is planning to spend Rs 2,952 crore. The company is planning to expand iron ore mining capacity to 10 mtpa from the existing level of 2.4 mtpa.
Gua mine started operations in 1919 and was a captive mine for IISCO (till its merger into SAIL in 2006) for its Burnpur plant.
Recently, the largest domestic steel maker hiked the prices for its products by up to Rs 500 per tonne for March, in order to align with the international prices. The company took this decision considering increase in input costs like coking coal.
