Kolkata: Steel Authority of India or SAIL, the country's largest steel maker, has charted an investment of Rs 1,50,000 crore till 2030-31 to ramp up steel production from 23 million tonnes to 50 million tonnes.
"We have prepared an investment plan of Rs 1,50,000 crore till fiscal 2030-31 to increase the steel production capacity to 50 million tonnes from 23-24 million tonnes now," SAIL chairman C S Verma told PTI.
He said the proposal would be presented before the company's board shortly for approval.
The PSU steel maker indicated that the investment line-up would encompass both brown field and green field expansion.
Mr Verma said steel capacity for Bengal would be raised to 10 million tonnes from 5 million tonnes currently.
A 50:50 joint venture has been formed with Kobe Steel to set up a commercial plant for making iron ore nuggets. The project will come up at Durgapur and use the Japanese steel maker's patented iron making technology.