SAIL to invest Rs 10,000 cr IISCO upgradation, not to share Chiria Mines

摘要

Steel Authority of India (SAIL) is planning to invest about Rs 10,000 crore to expand and modernise production capacity of IISCO, which was merged with SAIL early this year, according Chairman, Mr S.K. Roongta.A close look would also be taken at the marketing problems of the Alloy Steel Plant at Durgapur, he added. The plant's management fears that it may lose bulk business from Salem Steel Plant following the latter's decision to implement a forward integration programme. Since Salem's forward integration means the loss of business for Alloy Steel Plant, the problem has to be addressed by SAIL, Mr Roongta said. According to Mr Roongta the country's economic growth had come to a stage when the demand for steel was bound to grow substantially. The demand would be generated mainly from the automobile, infrastructure and construction sectors. Construction sector alone consumed at present about 11 million tonnes of steel items per annum. The quantity was equivalent to about 25 per cent of the country's total steel production.