SAIL board okays $2.6 bn expansion plan
The investment would nearly double capacity at the firm's Bhilai steel plant to 7 million tonne a year.
By PTI |
MUMBAI: Steel Authority of India Ltd. (SAIL) said on Wednesday that its board had given in-principle approval for a $2.6 billion expansion plan.
The investment would nearly double capacity at the firm's Bhilai steel plant to 7 million tonne a year.
The state-run steel-maker, which plans to raise its total output to 23 million by 2010 from 14 million tonne now, said
it produced 12.6 million tonnes of saleable steel during the fiscal year 2006/07 that ended March 31.
Shares in the company were up 1.93 per cent at rupees 113.30 at 724 in a Mumbai market that was up 1.04 per cent.
The investment would nearly double capacity at the firm's Bhilai steel plant to 7 million tonne a year.
The state-run steel-maker, which plans to raise its total output to 23 million by 2010 from 14 million tonne now, said
it produced 12.6 million tonnes of saleable steel during the fiscal year 2006/07 that ended March 31.
Shares in the company were up 1.93 per cent at rupees 113.30 at 724 in a Mumbai market that was up 1.04 per cent.
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