NEW DELHI, Feb 23: State-owned steel maker SAIL plans to scale down investment by nearly 22 per cent to Rs 9,000 crore on expansion and modernization at 5 integrated plants during the next fiscal.
Highest outlay of Rs 2,960 crore has been proposed for the Bhiali plant, followed by Rs 1,790 crore for the Rourkela plant. It also plans to invest Rs 1,244 crore in Burnpur unit, Rs 642 crore in Bokaro unit and Rs 588 crore in Durgapur facility.
The remaining Rs 1,766 crore has been planned to be spent on various schemes such as installation of slab casters, coke oven batteries, oxygen plants and others in various plants, as per the documents of the Interim Budget 2014-15.
In 2013-14, SAIL is expected to spend Rs 11,500 crore, up 18.17 per cent over actual investment of Rs 9,731 crore made in the previous fiscal. The company had budgeted Rs 13,000 crore total investment for the current fiscal ending March 31.
SAIL is investing Rs 72,000 crore to enhance capacity by around 10 million tonnes per annum (MTPA) to 24 MTPA. The ongoing expansion is likely to be completed next fiscal.
The other state-owned steel maker Rashtriya Ispat Nigam (RINL) has a higher investment plan for 2014-15 at Rs 1,724.17 crore as compared to the revised estimate to Rs 1,548.72 crore in the current fiscal. Details of investments were not given. - PTI