SAIL's capacity increase in 2003

SAIL’s capacity increase in 2003

Indian steel producer Steel Authority of India (SAIL) announced that the production of crude steel amounted to 12 million tons in 2003, up by 12% compared to 2002 while the production of saleable steel and finished steel rose by 8% and 7% to 11 million tons and 8.4 million tons respectively. SAIL stated that it will focus on further growth in 2004 to increase the company's market share in steel sector. Company will invest Rupees 8 billion (around $178 million) in 2004 to expand its facilities. SAIL will spend Rupees 3.2 billion ($70 million) for Bhilai plant, Rupees 890 million ($20 million) for ERW pipe plant and Rupees 1.12 billion ($25 million) for oven battery at Rourkela plant.