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).