SAIL hopes to execute follow-on offer
Priyadarshi Siddhanta: New Delhi, Nov 02 2012, 00:33 IST
two of its blast furnaces at Burnpur and Rourkela plants within the next 3-4 months. SAIL is aiming to increase its market share to 30 per cent by 2020 and its capacity to 45 MT. However, the steel ministry is not enthused by SAILís performance and believes that the PSU could have done much better by adhereing to time-bound execution of its expansion plans. Steel minister Beni Prasad Verma has been critical of SAILís performance and had described it as a tardy one. He said the PSU has delayed its modernisation plans by one year and it was high time that it enhanced the pace of its expansion works. The expansion is being executed in various plants which so far has consumed nearly Rs 39,000 crore.
The steel minister has also expressed concerns on the companyís depleting sales and growing raw material insecurity.
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