Steel Authority of India Ltd (SAIL) said it will invest Rs 41,000 crore to ramp up capacity of its Rourkela unit from 4 MTPA to 10 MTPA.
The capacity upgrade is projected to be commissioned in two years.
SAIL chairman AK Chaudhury said the PSU has pumped in Rs 14,000 crore to expand steel tonnage capacity to 4.5 MTPA from 2 MTPA. Projects worth Rs 6000 crore including a new hot strip mill are under implementation, the SAIL chairman said here at the Make in Odisha 2018, a biennial investors conclave.
“Our ramp up to 10 MTPA will generate 10,000 additional jobs directly. Besides 50,000 people stand to be indirectly engaged”, Chaudhury said.
He exuded confidence that SAIL would soon be manufacturing auto grade steel.
“The domestic steel industry is in a phase of consolidation and alignment. But our focus will be on organic growth”, Chaudhury added.
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