Indian steelmaker Steel Authority of
India Limited (
SAIL) disclosed on Wednesday that its board has approved a Rupees 15.53 billion ($335.5 million) expansion plan for its plant at Salem, Tamil Nadi in southern
India.
The expansion, which is expected to be completed in three years, will enable the plant to produce 180,000 metric tons of
stainless steel annually and increase rolling mill capacity from 46,000 metric tons to 146,000 metric tons.