Steel Authority of India (SAIL) plans to enhance its hot metal production from the base level of 14.6 million tonnes to 26.2 million tonnes per annum by FY11, the company said in its annual report.
"Sail is poised to make its mark globally in the years to come with the implementation of state-of-the-art clean and green technologies as part of its modernisation and expansion plans to increase its hot metal capacity to over 26 million tonnes by FY11 and 60 million tonnes by FY20," SAIL's Chairman, S K Roongta, said in its annual report.
The growth plan, besides targeting higher production also addresses the need for eliminating technology obsolescence, achieving energy savings, enriching product-mix, reducing pollution, developing mines and collieries, introducing customer-centric processes and developing matching infrastructure facilities.
As per the study of the International Iron and Steel Institute, steel demand in India is projected to grow to a level of around 180 million tonnes by FY20.
The company has incurred a capital expenditure of Rs 2,181 crore during FY08, which has been funded through internal accruals.
During FY08, the company continued to give an impetus towards new business initiatives including formation of new joint ventures, mergers and acquisitions and entering into memorandum of understandings for its long term strategic objectives
