SAIL to ramp up capacity to 23.5mt next fiscal
Domestic steel giant SAIL, which has undertaken a massive `72,000 crore modernisation and expansion plan, will ramp up its capacity to 19.5mt by September. The present hot metal capacity of SAIL is 14mt. “We are confident of taking our capacity to 19.5mt by September-end and completing the expansion programme to take the capacity to 23.5mt in the next fiscal,” Steel Authority of India Ltd (SAIL) Chairman C S Verma said.
SAIL’s focus in the current fiscal would be to complete the balance facilities under its modernisation and expansion programme and ramp up production from the new units in the shortest possible time.
SAIL has cumulatively spent `53,270 crore on the programme till March 2014. During 2013-14, projects worth about `6,500 crore were operationalised, resulting in the addition of 2.5mt hot metal capacities. 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 50mtpa by 2025 entailing investments of `1.5 lakh crore. The proposed capacity expansion to 50mtpa is in line with government’s vision of enhancing India’s steel-making capacity to 300mtpa by 2025, from 85mtpa at present. The company had registered 20.6% growth in net profit to `2,616 crore in FY’14.