Monday, June 27, 2022

Steel Minister reviews capex of steel PSUs for FY 2021-22

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New Delhi: At a review meeting held on Thursday, Union Steel Minister Ram Chandra Prasad Singh has told steel PSUs to set daily targets and ensure that the total annual capital expenditure (capex) target of Rs 13,300 crore for the current financial year is met without fail. Minister of State (MoS) for Steel Faggan Singh Kulaste, the CMDs of Steel CPSEs like SAIL, NMDC Limited, RINL-VSP, KIOCL Limited, MOIL Limited and MECON and senior officers of the Ministry of Steel attended the meeting.

The Union Minister reviewed the progress of CAPEX projects of the Steel CPSEs and once again emphasised the utmost importance of timely completion of project works.

He advised setting daily targets and close monitoring for time-bound project implementation. This achievement of targets shall motivate the workforce, enhance India’s steel production and spur higher growth. He directed CMDs to redouble efforts to ensure that there are no slippages in milestones for achieving the project targets for the year 2021-22.

The Steel Minister reviewed the capital expenditure done till November 30, in FY 2021-22, by the PSUs. Singh advised the CMDs to plan for the remaining period of the current financial year on a daily basis to meet the shortfall in target achievement.

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