SAIL to invest Rupees 10 billion

SAIL to invest Rupees 10 billion

The Indian steel producer Steel Authority of India (SAIL) is planning to invest approximately Rupees 10 billion (around $220.9 million) to renovate the existing facilities. SAIL is going to finance this project by the company's earnings. With these investments, the company aims to convert its total loss of Rupess 20 billion that was recorded in the last two years to profit. As previously reported by SteelOrbis, significant investment proposals concerning Durgapur and Rourkela steel plants have received approval from the board of SAIL.