SAIL to stress on capacity addition

Notwithstanding the uncertainties in the global environment today,the Indian steel industry is poised for greater growth,catapulting India to the league of highest steel consuming nations of the world in the next decade,said CS Verma,Chairman of maharatna Steel Authority of India Limited SAIL,at the companys 39th Annual General Meeting held here on Monday.

SAIL will continue to place maximum thrust on capacity addition,for which capital expenditure will be made with positive and upbeat sentiments,Verma disclosed. Cumulative orders worth about Rs 54,000 crore have already been placed under SAILs ongoing modernisation amp; expansion plan to realise hot metal production capacity of 23.5 million tonnes by FY 13, he informed the shareholders.