SAIL to achieve 19.5 MTPA capacity by Sept

Tags: SAIL, Industry
Domestic steel giant SAIL, which has undertaken a massive Rs 72,000 crore modernisation and expansion plan, will ramp up its capacity to 19.5 million tonnes (MT) by September.

The present hot metal capacity of SAIL is 14 MT.

"We are confident of taking our capacity to 19.5 MT by September-end and completing the expansion programme to take the capacity to 23.5 MT in the next fiscal," Steel Authority of India Ltd (SAIL) Chairman C S Verma told PTI.

The company is implementing Rs 72,000 crore expansion programme to raise hot metal capacity to 23.5 MTPA.

Verma said: "SAIL's focus in the current fiscal would be to complete the balance facilities under our modernisation and expansion programme and ramp up production from the new units in the shortest possible time."

SAIL has cumulatively spent Rs 53,270 crore on the programme till March 2014.

During 2013-14, projects worth about Rs 6,500 crore were operationalised, resulting in the addition of 2.5 MT hot metal capacity.

The projects include a new blast furnace and slab caster at Rourkela, a new ore handling plant and sinter machine at Bhilai and a rebuilt coke oven battery at Durgapur.

Further, the steel giant has plans to ramp up capacity to 50 MTPA by 2025 entailing investments of Rs 1.5 lakh crore.

The proposed capacity expansion to 50 MTPA is in line with government's vision of enhancing India's steel-making capacity to 300 MTPA by 2025, from 85 MTPA at present.

The company had registered 20.6% growth in net profit to Rs 2,616 crore in FY'14.

SAIL's gross turnover was Rs 51,866 crore in FY14, which Verma said was the highest ever and had increased more than 5% from Rs 49,350 crore in FY13.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Time for banks to pass on RBI rate cuts to stakeholders of the economy

    Reserve Bank of India’s decision to cut the repo rate by 25 basis points, from 7.75 to 7.50, is a move in the right direction.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Roopen Roy

The making of a digital Bharat

Exactly 20 years ago, Nicholas Negroponte of MIT Media Labs ...

Zehra Naqvi

For the love of language

A video doing the rounds in social media these days ...

Dharmendra Khandal

‘Poop’ coffee anyone? If civets suffer, so be it

That a drink which proudly associates itself with animal poop ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture