India eyes second steel maker slot; SAIL to invest Rs 1.5 lakh crore

Bhopal: Steel Authority of India Ltd. (SAIL) plans to invest US$ 23.8 billion for increasing its production to 50 Million Tonnes Per Annum (MTPA) by 2025. SAIL is currently expanding its capacity from 13 MTPA to 23 MTPA, at an investment of US$ 9.6 billion. The long term plan is to expand its capacity to 50 MTPA by 2025. The company is expecting support from the Government of India to improve the mining sector of India. One of the measures was the creation of an SPV, to raise funds for the establishment of steel plants. Government of India also plans to amend mining related acts like, Mines and Minerals Development and Regulation (MMDR) Amendment Act 2015.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.