SAIL revises capex target to 25 MT
Public sector steel maker SAIL on Monday said it will invest Rs 43,000 crore till 2010 to nearly double its manufacturing capacity to 24.98 million tonnes from the present level of 13 MT.
By PTI |
NEW DELHI: Public sector steel maker SAIL on Monday said it will invest Rs 43,000 crore till 2010 to nearly double its manufacturing capacity to 24.98 million tonnes from the present level of 13 MT.
The company had initially set a target to achieve a capacity of 22.5 million tonnes at an investment of Rs 37,000 crore by 2010, an official release said.
Reviewing the progress of SAIL's expansion programme, Steel Minister Ram Vilas Paswan on Monday asked the company's management to implement the project timely and effectively.
He also asked SAIL Chairman S K Ronngta to formulate a revised schedule for implementing the company's expansion plan within the next two days.
The minister warned SAIL of strict actions if there were any delays at different stages of the expansion programme, as these delays cost the exchequer substantially.
Secretary Steel would review the progress of the programme in the first week of each month.
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