SAIL to undertake massive capacity expansion

10 Aug 2022 CW Team

According to a recent news release issued on August 8, 2022, the Steel Authority of India's current capacity is 20.63 million tonnes per annum. SAIL intends to raise its crude steel production capacity to 35 million tonnes per year by 2030-2031, in line with the expected rise in crude steel production to 300 million tonnes. SAIL's proposed scale of indicative investment to reach a crude steel capacity of around 35 million tons per year is approximately Rs. 1,100 billion.

The projects for SAIL's capacity growth are financed using a mix of debt and equity, often in a 1:1 ratio. Before moving on to the execution stage, when costs are incurred, the project planning will pass through the preparatory stage. Since these projects are still in the planning stages, no funds have been spent on them yet.

The land bank study is now underway. However, early research suggests that there is land available for the expansion project planned for the first phase.

The New Public Sector Enterprise (PSE) Policy's declared objective is to eliminate the involvement of the government in PSEs (PSEs). The objective of opening up new investment opportunities for the private sector in order to encourage the infusion of private capital, technology, innovation, and best management practices will be undermined if the public sector is permitted to take over or bid for another public sector that has been selected for disinvestment.

As a result, Shri Faggan Singh Kulaste, Minister of State for Steel, stated in a written reply in the Rajya Sabha that SAIL is unable to participate in the plan to acquire RINL.

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