SAIL to invest Rs 10k cr to develop mines

New Delhi : Steel Authority of India Ltd (SAIL) will invest Rs 10,264 crore to develop mines catering to its increased raw material requirement upon completion of an ambitious expansion programme. The Maharatna company has already embarked on a Rs 70,000 crore capacity expansion plan to ramp up its domestic output to 23.46 million tonnes per annum (MTPA) by 2012-13 from 14.35 MTPA at present.

The company's iron ore requirement would increase from 23.2 million tonnes (MT) at present to a post-expansion level of 39 MT, which will be met from captive sources, the state-run firm's Chairman C S Verma said in Bhilai.