The board of Steel Authority of India (SAIL) today approved an investment of Rs 350 crore for three modernisation and expansion projects at its Bhilai and Bokaro plants.Emphasising on the need to make the company a leading enterprise internationally, Minister of Steel, Ram Vilas Paswan said SAIL's capex plans should be completed over a period of three years instead of initially fixed five years in view of the increasing demand for steel.The minister, who met SAIL officials today asked the company's management to opt for globally proven technology and make no compromise while implementing the modernisation and expansion plans.The PSU would invest Rs 176 crore in re-building a coke oven battery and Rs 141 crore to set up a 280 MW power plant at Bhilai and Rs 31 crore to computerise a steel melting shop at its Bokaro facility, SAIL said in a statement.Paswan also pointed out on the need to expand the distribution network of the country so that good quality steel is available across the country.
