Union Minister of Steel, Beni Prasad Verma has said that Public Sector Undertakings like SAIL and RINL have undertaken modernization and expansion projects at their Integrated Steel Plants (at Bhilai, Bokaro, Rourkela, Durgapur, Burnpur and at Salem of SAIL and Vizag Steel Plant of RINL) to enhance its crude steel production capacity.
The expansion of Salem Steel Plant of SAIL has already been completed and the other projects are in various stages of progress.
Out of a total indicative investment for the current modernization and expansion plan of about Rs 72,134 crore, SAIL has so far incurred an expenditure of Rs.42,136 crore till January, 2013. RINL has so far spent about Rs.10,104 crore against an estimated cost of Rs 12,291 crore for its modernization plans till January, 2013.
The minister also said that steel is a de-regulated sector and decisions relating to project investments and implementation are taken by the concerned investors looking at market conditions.
Most of these steel units have come up or are being set up in private sector about which data is not maintained by Ministry of Steel.
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