Cumulative orders worth about `540bn have already been placed under company’s ongoing modernization & expansion plan
Stating that the Indian steel industry is poised for greater growth, Steel Authority of India Limited (SAIL) said it would lay thrust on capacity addition and had outlined `14,337-crore expenditure for the current financial year. Orders worth `54,000 crore have been placed under the modernization and expansion programme.
Speaking to reporters after the annual meeting, SAIL Cairman CS Verma said cumulative orders worth `54,000 crore had already been placed under SAIL’s ongoing modernization and expansion plan to realise hot metal production capacity of 23.5 million tonnes by 2012-13.
While capital expenditure of `11,280 crore was incurred during 2010-11, an outlay of `14,337 crore has been planned for the current year.
After having completed Salem Steel Plant’s modernization and expansion, several projects in all the five integrated steel plants of SAIL are under various stages of completion.
Verma said major new facilities due to be commissioned during 2011-12 included blast furnace at Rourkela, which would be the country’s largest, a 5 lakh tonne per annum wire rod mill at Burnpur, a 1.2 million tonne per annum (mtpa) cold rolling mill at Bokaro and 7-metre-tall coke oven batteries at Rourkela and IISCO Steel plants.
He said the company was determined to meet its enhanced requirement of iron ore from captive sources, by augmenting production from existing mines and by developing new mines at Rowghat in Chhattisgarh and Chiria in Jharkhand.
“To utilise low-grade iron ore, dumped fines and slimes, SAIL plans to set up beneficiation and pelletisation facilities, including a 10 mtpa beneficiation and 4 mtpa pelletisation plant at the company’s Gua iron ore mines,” he said.
Verma said besides developing existing coal blocks, SAIL was making efforts for fresh allocation of coking coal and thermal coal blocks.
The company’s MoU with the Government of Central Kalimantan in Indonesia was among its various efforts towards sourcing raw materials from abroad, Verma added. To meet future challenges, he said SAIL was working on a long-term strategic plan ‘Lakshya 2020’, which will steer the company towards meeting its strategic objectives of achieving profitability through growth and customer satisfaction.
SAIL has also set up a working group to draw up plans for setting up a 5.6 mtpa steel plant, 1.15 mtpa urea plant and 1,000 MW power plant.
Stating that the Indian steel industry is poised for greater growth, Steel Authority of India Limited (SAIL) said it would lay thrust on capacity addition and had outlined `14,337-crore expenditure for the current financial year. Orders worth `54,000 crore have been placed under the modernization and expansion programme.
Speaking to reporters after the annual meeting, SAIL Cairman CS Verma said cumulative orders worth `54,000 crore had already been placed under SAIL’s ongoing modernization and expansion plan to realise hot metal production capacity of 23.5 million tonnes by 2012-13.
While capital expenditure of `11,280 crore was incurred during 2010-11, an outlay of `14,337 crore has been planned for the current year.
After having completed Salem Steel Plant’s modernization and expansion, several projects in all the five integrated steel plants of SAIL are under various stages of completion.
Verma said major new facilities due to be commissioned during 2011-12 included blast furnace at Rourkela, which would be the country’s largest, a 5 lakh tonne per annum wire rod mill at Burnpur, a 1.2 million tonne per annum (mtpa) cold rolling mill at Bokaro and 7-metre-tall coke oven batteries at Rourkela and IISCO Steel plants.
He said the company was determined to meet its enhanced requirement of iron ore from captive sources, by augmenting production from existing mines and by developing new mines at Rowghat in Chhattisgarh and Chiria in Jharkhand.
“To utilise low-grade iron ore, dumped fines and slimes, SAIL plans to set up beneficiation and pelletisation facilities, including a 10 mtpa beneficiation and 4 mtpa pelletisation plant at the company’s Gua iron ore mines,” he said.
Verma said besides developing existing coal blocks, SAIL was making efforts for fresh allocation of coking coal and thermal coal blocks.
The company’s MoU with the Government of Central Kalimantan in Indonesia was among its various efforts towards sourcing raw materials from abroad, Verma added. To meet future challenges, he said SAIL was working on a long-term strategic plan ‘Lakshya 2020’, which will steer the company towards meeting its strategic objectives of achieving profitability through growth and customer satisfaction.
SAIL has also set up a working group to draw up plans for setting up a 5.6 mtpa steel plant, 1.15 mtpa urea plant and 1,000 MW power plant.
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