Construction Industry News
According to a recent press release dated August 8, 2022, the current capacity of the Steel Authority of India is 20.63 million tons per year. SAIL plans to increase crude steel production capacity to 35 million tons per year by 2030-2031, in line with the projected increase in crude steel production to 300 million tons. SAIL's proposed size of indicative investment to achieve a crude steel capacity of about 35 million tons per year is about Rs. 1,100 billion.
SAIL's capacity growth projects are financed with a mix of debt and equity, often in a 1:1 ratio. Before moving to the execution phase, when costs are incurred, the project planning goes through the preparatory phase. Since these projects are still in the planning phase, no money has been spent on them yet.
The land bank investigation is now underway. However, early research suggests that land is available for the expansion project planned for the first phase.
The stated goal of the new Government Policy for Enterprises (PSEs) is to eliminate government involvement in PSEs (PSEs). The objective of opening up new investment opportunities for the private sector to encourage the contribution of private capital, technology, innovation and best management practices will be undermined if the public sector is allowed to take over or bid for another public sector selected for divestment.
As a result, Shri Faggan Singh Kulaste, Minister of State for Steel, stated in a written reply in the Rajya Sabha that SAIL cannot participate in the plan to take over RINL.
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