SAIL sees FY13 capex at $2.9 billion
Quotes

SAIL sees FY13 capex at $2.9 billion

Last Updated: Friday, January 27, 2012, 14:03
 
 Comment 0
 
SAIL sees FY13 capex at $2.9 billion
New Delhi: State-run Steel Authority of India Ltd will spend about Rs 145 on capital expenditure in the next fiscal year, up 15 percent from the current year, adding 5 million tonnes of capacity, its chairman said.

The company's annual production capacity is expected to rise to 19 million tonnes by the end of the fiscal year that starts in April, Chairman C.S. Verma said at the Global Steel 2012 Conference on Friday.

SAIL, the country's largest domestic steelmaker, expects local demand for steel to grow 7 percent in the fiscal year to end March 2012, with prices remaining stable.

"We will revise steel prices once coking coal prices stabilises," said Verma. The company raised prices by 15-20 percent after coking coal prices trebled in the current fiscal year, he added.

Margins at India's top steelmakers have been under pressure during the December-quarter because of slowing investments by end-user industries, higher interest costs and foreign exchange losses on import of raw materials.

Bureau Report




First Published: Friday, January 27, 2012, 14:03


Comments


comments powered by Disqus
John Kery with Indian Biz Honchos
John Kery with Indian Biz Honchos
Honda Mobilio MPV
Honda Mobilio MPV
BRICS Annual Summit 2014
BRICS Annual Summit 2014
Tata Zest Standout Features: In Pics
Tata Zest Standout Features: In Pics
New car launches in July
New car launches in July

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved