PSU Watch logo

| EV owners can now charge vehicles using existing electricity connections |   | ICRA suggests long-term finance at low rates for power, renewables in Budget |   | GAIL’s Director (Marketing) ES Ranganathan arrested by CBI in corruption case |   | CAIT urges Centre to exempt GST registration for e-commerce sales |   | Indian Oil to invest Rs 7,000 cr in city gas distribution projects |  

SAIL aiming to push production to 50MT in two phases by 2031: CMD

While noting that the country is going to need steel over a period of time, Chaudhary added that as the demand grows, the supply should grow as well
New Delhi: The plan to expand Steel Authority of India Limited’s (SAIL) production capacity to 50 million tonne per annum will be executed in two phases, Chairman and Managing Director (CMD) Anil Kumar Chaudhary has said. He had announced the expansion plan for the company in December 2018. Chaudhary had set a target of pushing SAIL’s production capacity to 50 MTPA by 2030-31 from about 21.4 MTPA at present.

SAIL will attempt to reach 35 MTPA by 2025-2026

“The expansion will be in two phases. In the first phase, we intend to reach 35 MTPA by 2025-2026, and the rest 15 MTPA in the second phase will be completed by March 31, 2031,” he said. While noting that the country is going to need steel over a period of time, Chaudhary added that as the demand grows, the supply should grow as well.

‘100% utilisation will take time’

“In the steel industry, 100 per cent capacity utilisation takes time. It takes at least three years for the capacity to be ramped up. In the first year 50 per cent can be achieved, In the second year 70 per cent, In third year 90 per cent and then maybe in the fourth year you see 100 per cent capacity utilisation,” the CMD said. An industry expert said that it would cost around Rs 6,000 crore to add 1 million tonne of capacity.