SAIL's Bhilai plant to be invested Rs 12 billion

SAIL’s Bhilai plant to be invested Rs 12 billion

According to statement released by Indian Steel Ministry, Rupees 12 billion (approx $261 million) will be invested to Steel Authority of India Ltd's (SAIL) plant Bhilai Steel Plant (BSP). Total investment to all SAIL's plants will amount Rupees 100 billion (approx $2.1 billion). The investment regarding BSP will be materialized in two phases and the annual production capacity of the plant will be increased to 7 million tons. As previously reported by SteelOrbis, BSP was closed temporarily in April due to shortage of coking coal. Ministry also stated that coking coal shortage will not stand as a problem for BSP as coal mines have been purchased in New Zealand and Australia.