SAIL doubles crude steel production capacity

The state-owned steel major, Steel Authority of India (SAIL), reported that it has nearly doubled its capacity in five of its plants. The modernisation drive undertaken by the government is a key step towards the target of 300 MTPA crude steel productions by 2030.

SAIL announced that it has undertaken modernisation and expansion at its five integrated steel plants that include Bhilai (Chhattisgarh), Bokaro (Jharkhand), Rourkela (Odisha), Durgapur (West Bengal), Burnpur (West Bengal), and a special steel plant at Salem (Tamil Nadu). It has now enhanced its crude steel capacity from 12.8 million tonnes per annum (MTPA) to 21.4 MTPA. Its Bhilai plant saw the highest increase in crude steel production capacity. It increased from 3.93 MTPA to 7 MTPA.

The government also has formed a ‘National Steel Policy’, which aims this achievement of 300 MTPA crude steel capacity by 2030. It has further taken certain steps toward fulfilling this goal. These steps include steel scrap policy, issuance of steel quality control orders for stopping non-standardised steel import, steel import monitoring system (SIMS) for advanced registration of steel imports, draft framework policy to promote setting up of steel clusters, having manufacturing units for value-added steel, ancillaries, capital goods, contracts with Ministry of Mines and Ministry of Coal to ensure availability of raw material to the steel sector. Ministry of Steel has intended to work for setting up coking coal washeries by CIL/BCCL, auction/allotment of coking coal mines and diversification of coking coal imports, etc.

On Tuesday, the shares of SAIL opened at Rs 35.20 down by 0.6 per cent on BSE.