The Chairman and Managing Director (CMD) of the Steel Authority of India Limited (SAIL), a Maharatna PSU, Mr. Amarendu Prakash, announced that the PSU is going to invest Rs 6,500 crore towards capex during the current financial year as part of its Rs 1 lakh crore investment plan over the next few years. Mr. Prakash stated that while the world grew by 0.5%, India grew by 13% last year and will continue to grow at 8% CAGR in the next 10 years.
“This year, the capex target is Rs 6,500 crore. We also have regular capex on maintaining our facilities, as well as debottlenecking exercises. Most of the capex expansion (Rs 1 lakh crore by 2030) will start flowing from FY’26. In the first phase from (the capacity) 20 million tonnes, we go to 35 million tons annually by 2031. In the next phase, we will make it 50 million tonnes,” said CMD Prakash.
Previously, SAIL management had informed investors about a planned Rs 1 lakh crore investment across its plants for greenfield and brownfield expansions over the next 3-4 years, while aiming to maintain a debt-equity ratio of 1:1.
He also elaborated on the import of cheap steel from China, by stating how the world countries have taken different steps such as increasing import tax and India is also expected to take calibrated steps. In 2023, India extended the imposition of an anti-dumping duty on certain Chinese steel for five years.
