The plant to be set up in Jharkhand is envisaged to have an annual production capacity of six million mt by 2012-2013 and 12 million mt by 2019-2020, whereas the plant to be set up in Chattisgarh is expected to have a production capacity of four million mt per annum. The size of the investments and the product ranges involved have not yet been disclosed.
The exact timescale for the construction of the two greenfield plants depends on the feasibility reports, and on the site location reports, for the projects.
In his written announcement, Minister of State for Steel Dr. Akhilesh Das said that SAIL is also trying to takeover a few existing sick units like Malvika Steels Ltd.
The minister also added that the government is working on various measures to improve the steel production capacity in India which, inter alia, include large scale capacity additions by public sector steel plants. He went on to say that, for effective coordination and monitoring of all issues concerning major steel investments in the country, an inter-ministerial group has been set up which will be chaired by the secretary of the Ministry of Steel, as well as a steel price monitoring committee which will monitor, analyze and discuss the price trends of steel commodities.