Posted By:Infra Bazaar
Steel Authority of India Limited (SAIL) is set for a big expansion, as Prime Minister Modi, who will be visiting the steel plant on April 1st, likely to announce a Rs. 36,000 crore capacity expansion plan. PM Modi will inaugurate the recently completed modernized unit of the plant.
SAIL has spent Rs. 12,000 crore in modernizing and expanding the plant, increasing its production capacity to 4.5 mtpa from 2 mpta.
In a maiden visit to the Rourkela steel plant, located in Odisha state, PM Modi likely to make key announcements on SAIL’s future plans, including SAIL’s ‘Vision 2025’.
As per sources, SAIL prepared a blueprint on future expansion, aiming 50 mpta installed capacity by 2025, requiring a whopping Rs. 1.5 lakh crore in investment.
SAIL is going through a Rs. 72,000 crore ongoing expansion program that will increase its capacity to 23.46 mpta, from existing 13.8 mpta.
"The Prime Minister is very hopeful of the potential that can be tapped in the iron and steel sector of the Eastern region. He may deliberate upon the need and his government's commitment to unfurl that potential in his speech after inaugurating the expanded facility of RSP on April 1," ET quoted an unknown source as saying.
SAIL is seriously working to increase the capacity of its Durgapur, IISCO, Bokaro and Bhilai steel plants.
And coming to Rourkela Steel Plant, it is the country’s first public sector’s integrated steel factory, set up back in 1960 with German collaboration. It is the SAIL’s only steel plant in the country that produces steel specifically for the power, packaging, oil and natural gas sectors.
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