Country’s largest steel maker SAIL will spend around Rs 6,000 crore this fiscal on various modernisation and expansion programmes as well as on research and development (R&D) initiatives.
In 2015-16, the public sector undertaking (PSU) had spent Rs 4,483 crore as capital expenditure. “SAIL will spend around Rs 6,000 crore as capex this financial year. This includes the expansion programme as well as R&D spend,” a source said. The money will go to energy saving methods, enrich product mix, pollution control, developing mines and collieries to meet higher requirement of key inputs and to introduce customer centric processes, the source added. The Maharatna company is in the process of enhancing hot metal production capacity from 13.82 million tonnes per annum (MTPA) to 23.46 MTPA under its expansion and modernisation programme with an investment of Rs 61,870 crore, which is expected to be completed this fiscal.