SteelMin seeks time-bound progress report on SAIL expansion
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Last Updated: Monday, December 07, 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 07, 2009, 22:16


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