Steel Authority of India Ltd (SAIL) will invest Rs 10,264
crore to develop mines catering to its increased raw material requirement upon
completion of an expansion programme.
The Maharatna company has already embarked on a Rs
70,000-crore capacity expansion plan to ramp up its domestic output to 23.46
million tonnes per annum by 2012-13 from 14.35 MTPA at present.
The company’s iron ore requirement would increase from 23.2
mt at present to a post-expansion level of 39 mt, which will be met from
captive sources, said the company Chairman, Mr C.S. Verma..
The state-run firm at present runs seven major iron ore
mines, four of which are in Jharkhand and the remaining in Orissa.
Source: The Business Line
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