SteelMin seeks time-bound progress report on SAIL expansion
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.
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
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--
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.