Government to invest Rs49,000 crore in SAIL
21 Aug 2007
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Mumbai: The government will invest Rs49,000 crore ($11.9 billion) by 2011-12 in the country''s top steelmaker, Steel Authority of India, to boost output.
"We are going to invest 490 billion rupees in SAIL by 2011 or 2012," steel minister Ram Vilas Paswan said. "Earlier, our investment plans were 400 billion rupees."
SAIL''s
production capacity would rise to 26 million tonnes annually
as a result, from 14 million tonnes now, he said.
