|A SAIL unit|
MAJOR steel maker Steel Authority of India Ltd (SAIL) plans to scale down investment by about 22 percent to Rs 9,000 crore on expansion and modernization at its five integrated plants during the next fiscal. The highest allocation of Rs 2,960 crore has been proposed for the Bhilai plant, followed by Rs 1,790 crore for the Rourkela plant. SAIL will invest Rs 1,244 crore in Burnpur unit, Rs 642 crore in Bokaro unit and Rs 588 crore in Durgapur unit. The remaining Rs 1,766 crore has been planned to be spent on various schemes...including installation of slab casters, coke oven batteries, oxygen plants and others in various plants, according to the documents of the interim budget 2014-15. Overall, the steel ministry controls 10 companies.
SAIL is India's largest steel producing company. With a turnover of Rs. 49,350 crore, the company is among the seven Maharatnas of the country's Central Public Sector Enterprises. SAIL has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.
In 2013-14, SAIL is expected to spend Rs 11,500 crore, up 18.17 percent over actual investment of Rs 9,731 crore in the previous fiscal. The Maharatna PSU had budgeted Rs13,000 crore total investment for the current fiscal ending 31 March.
SAIL is pumping Rs 72,000 crore to enhance capacity by around 10 million tonnes per annum (MTPA) to 24 MTPA. The expansion plan is likely to be completed next fiscal.
The other state-owned steel maker Rashtriya Ispat Nigam Ltd (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. Iron ore producer NMDC will spend Rs 4,345 crore next fiscal which is nearly 60 percent higher than the estimated investment of Rs 2,720 crore in 2013-14. NMDC had spent Rs 1,607.24 crore in the previous fiscal.
“NMDC is also entering into the field of producing high-value products like ferric oxide, iron powder, etc,” the documents state.
Country’s largest manganese ore producer MOIL Ltd plans to invest Rs 192.05 crore in 2014-15, up from Rs 133.32 crore in 2013-14, compared to Rs 56.93 crore in 2012-13.Kudremukh Iron Ore Co Ltd (KIOCL) and MMTC Ltd plan to spend Rs 50 crore and Rs 45 crore respectively, in the next fiscal.