Indian state-run steelmaker Steel Authority of India Limited (SAIL) has formally approved expansion of its Bhilai Steel Plant (BSP) to 10.2 million mt per year from 6.8 million mt per year, entailing an investment of $3.22 billion, junior steel minister Bhupati Raju Srinivasan told India's parliament on Wednesday, July 22.
All major raw materials will be sourced from SAIL's captive mines and also from the domestic and import markets, he said.
The expansion project will be completed within 42 months.
