Maharatna Company gave a big business update, keep an eye on the stock on Monday

Details 

The current installed capacity of Steel Authority of India Limited (SAIL) is about 2 crore tonnes per annum. In the first phase of the plan, we are going to take it to 3.5 crore tonnes. Thus, the first phase of expansion is of 1.5 crore tonnes.

Public sector Steel Manufacturing Cell (SAIL) has given a big update. SAIL Chairman Amarendu Prakash has said that work has been started on the plan to expand the installed capacity by 15 million tonnes. The current installed capacity of Steel Authority of India Limited (SAIL) is about 2 crore tonnes per annum. On a question asked about SAIL's expansion plans, Prakash said, it has been started. In the first phase of the plan, we are going to take it to 3.5 crore tonnes. Thus, the first phase of expansion is of 1.5 crore tonnes.

 Will raise funds from the market also

Regarding the amount to be spent on the expansion plan and the time it will take, the SAIL Chairman said that the company is actively working on the Detailed Project Report (DPR) and it is difficult to give any number at the moment. Regarding the funding model for the expansion plan, Prakash said that SAIL will use its own funds for this and will also raise funds from the market. Funding will be a mix of both internal resources and the market, he said. Steel industry is a large capital expenditure industry. We will be in the market for funds.

SAIL's top official said the company will not only expand its installed steelmaking capacity but also install new technologies. Along with this, SAIL will also develop logistics infrastructure for the movement of raw materials and finished products. SAIL, operated under the Ministry of Steel, has five integrated and three specialized steel plants at different locations in the country.