SAIL commences automotive steel project

SAIL commences automotive steel project

Indian steel producer Steel Authority of India Ltd (SAIL) has commenced a pilot project for automotive steel production at its Bokaro Steel plant. SAIL officials stated that they want to enter automotive steel business as demand for the subject product has increased significantly. Bhushan Steel, which meets 50% of Maruti Udyog's automotive steel requirement, announced that they increased the capacity utilization to 100% in order to meet the demand. SAIL's investment in automotive steel production is a part of company's expansion plan “Corporate Plan 2012”, which will require an investment of Rupees 30 billion ($684 million).