SteelMin seeks time-bound progress report on SAIL expansion

Last Updated: Monday, December 7, 2009 - 22:16

New Delhi: Concerned over delay in completion
of SAIL`s Rs 70,000-crore expansion project, Steel Minister
Virbhadra Singh on Monday asked the PSU to submit a time-bound
report for execution of the mega programme.

According to sources, Singh today held a meeting of the
top brass of the country`s largest steel maker and reviewed
the current status of the expansion project.
"The Steel Minister has asked SAIL to prepare and submit
a time-bound report on the project," they added.

SAIL Chairman S K Roongta did not respond to repeated
calls.

The global recession and the resultant demand slump have
delayed SAIL`s ambitious expansion plan to December 2012 from
earlier plans of 2011-12 fiscal. During the the last fiscal,
the company had even aimed to complete the project by 2010-11.

SAIL has now set the target of completing the mega
project--aimed at augmenting its annual production capacity to
23.46 million tonne (MT) from the present 14.6 MT per annum--
to 2012-13.
The minister had recently informed Rajya Sabha that
"expansion plan of SAIL envisages increasing hot metal
production from 14.6 million tonne per annum to 23.46 MT in
Phase-I, will be completed by 2012-13."

Due to the lingering recession, the PSU was in July
forced to revise downward its planned production capacity from
26.18 MT to the current target of 23.46 MT.

PTI



First Published: Monday, December 7, 2009 - 22:16

More from zeenews

 
comments powered by Disqus