State-owned steel manufacturer SAIL is set to embark on an ambitious expansion strategy, aiming for a 15 million-ton increase in its installed capacity in the initial phase. Currently operating at approximately 20 million tonnes per annum, Amarendu Prakash, the company’s Chairman, unveiled plans to boost capacity to 35 million tonnes in the first phase.
Prakash highlighted that expansion efforts are underway, with detailed project reports (DPRs) actively in development. However, specific details regarding the timeline and investment amount remain undisclosed.
Regarding funding, SAIL intends to utilize a blend of internal resources and external market support. Given the significant capital requirements of the steel industry, Prakash stressed the company’s intent to access external funding sources.
Apart from augmenting its steel-making capacity, SAIL aims to incorporate new technologies and bolster logistics infrastructure to streamline the movement of raw materials and finished products. As a prominent player in the steel sector under the Ministry of Steel, SAIL operates five integrated and three special steel plants across various locations in India.