9,224.84 TRY BIST 100 BIST 100
38.44 USD USD USD
5.32 CNY CNY CNY
43.71 EUR EUR EUR
0.12 CNY CNY/EUR CNY/EUR
46.98 TRY Interest Interest
63.56 USD Fossil Oil Fossil Oil
40.67 USD Silver Silver
4.76 USD Copper Copper
98.50 USD Iron Ore Iron Ore
325.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,094.11 TRY Gold (gr) Gold (gr)

Steel Authority of India plans capital expenditure

Steel Authority of India Ltd (SAIL) has announced plans to invest Rs 6,500 crore (approximately USD 867 million) in capital expenditure during the current fiscal year, as part of its broader Rs 1 lakh crore (approximately USD 13.3 billion) investment strategy over the next few years, according to Amarendu Prakash, Chairman of the Steel Authority of India Ltd.

Steel Authority of India plans capital expenditure

He emphasized that this year's investment will support facility maintenance, debottlenecking exercises, and initial expansions aimed at achieving a capacity of 35 million tonnes per annum by 2031, with further ambitions to reach 50 million tonnes later.

Regarding concerns over cheap Chinese steel flooding the Indian market, Prakash noted the steel industry's appeal to the government for measures against such practices. He expressed optimism about potential steps being taken to mitigate this issue, citing global precedents where countries have implemented import taxes to regulate steel inflows. India, he suggested, will adopt similar calibrated measures based on the quality and pricing of imported steel.

Looking ahead, Prakash underscored India's robust steel demand growth, contrasting the world's 0.5% growth rate with India's 13% expansion last year, expecting an 8% compound annual growth rate (CAGR) over the next decade. He emphasized SAIL's commitment to maintaining a debt-equity ratio of 1:1 amid its ambitious expansion plans across greenfield and brownfield projects.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Egypt boosts sector with new mining law

Wednesday, April 30, 2025

Vallourec signs USD 130 million OCTG steel pipe supply contract in Kuwait

Wednesday, April 30, 2025

Josu Pina Bilbao “SSAB is a pioneer in fossil fuel-free steel”

Monday, April 28, 2025

US steel imports increase by 11.4% in March

Tuesday, April 29, 2025

Vardhman Special Steels to set up new greenfield steel plant in Punjab

Tuesday, April 29, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now