Team News Riveting
New Delhi, July 31
Steel Authority of India Limited (SAIL) has set an ambitious capital expenditure (capex) target of Rs. 7,500 crore for the current financial year, marking a 25 per cent increase over the previous year, as the company accelerates its capacity expansion across multiple integrated steel plants.
Dr Ashok Kumar Panda, Director (Finance), SAIL, stated that the company is actively pursuing its investment roadmap to enhance production capacities. “Capex last year was close to Rs 6,000 crore. And this year, we have kept a target of Rs 7,500 crore throughout the year, which is a higher target,” he said while responding to a query on SAIL’s investment plans.
The Maharatna public sector enterprise, which remains India’s largest steel producer in the public domain, is currently in an expansion phase. SAIL aims to increase its total steelmaking capacity to 35 million tonnes (MnT) by 2030 from the present combined capacity of 20 MnT across its five integrated steel plants located in Odisha, Jharkhand, Chhattisgarh, and West Bengal. The long-term expansion strategy entails an estimated investment of nearly Rs. 1 lakh crore.
