SAIL invests Rs 36,000 crore for RSP capacity expansion in Odisha

Odisha Sun Times Business Bureau
New Delhi/Rourkela, Mar 30:

The Steel Authority of India Ltd (SAIL) has invested Rs 36,000 crore for modernisation of Rourkela Steel Plant (RSP) in Odisha’s Sundargarh district to increase its annual capacity production from 4.5 million tonne to 10.8 million tonne by 2025.

The SAIL is most likely to make an announcement on this during the visit of Prime Minister Narendra Modi to Rourkela on April 1.

The Prime Minister, who is scheduled to inaugurate RSP’s modernisation unit during his visit, is likely to unveil the SAIL’s Vision-2015, reliable sources said.

It may be mentioned that the SAIL had taken up the first phase RSP modernisation work to increase its annual capacity from 2 million tonne to 4.5 million tonne with an investment of Rs 12,000 crore.

The Central PSU has set the annual capacity target from 4.5 million tonne to 10.8 million tonne in the second phase expansion work by 2025 with an investment of Rs 1.5 lakh crore.

SAIL, which has taken up capacity expansion of its plants in the country at an investment of Rs 72,000 crore, hopes to complete the work by the end of this year after which the annual net production from these plants would go up to 23.46 million tonnes.

While the steel production in the country per annum is 100 million tonnes, the Union Steel ministry has targeted to increase the production by three-fold by 2025.