Combined SAIL, RINL steel production to touch 30 million tonnes by 2011-12
09 Jul 2009
State-owned Steel Authority of India Limited (SAIL) and Rashtriya Ispat Nigam Limited (RINL) are in the process of implementing major expansion programmes aimed at raising their combined steel production from 17.3 million tonnes to 29.76 million tonnes.
Production of hot metal at SAIL plants is expected to go up from the present 14.4 million tonnes per annum to 23.46 million tonnes per annum and that of RINL from the present 3.0 million tonnes per annum to 6.3 million tonnes per annum by 2011-12, minister of state for steel Sai Prathap informed the Lok Sabha in a written reply.
SAIL and RINL have invested Rs3,799 crore and Rs4,041 crore, respectively, during the last three years (2006-07 to 2008-09), the minister informed the House.
SAIL has earmarked over Rs10,000 crore spending on expansion in the current financial year while the steel PSUs together are expected to spend over Rs13,730 crore this fiscal.
SAIL will raise the entire amount from internal and extra budgetary resource.
The steel PSUs are undertaking Rs 70,000-crore project for capacity expansion by 2011-12.