To modernise their set up and expand their operations, metal and mining PSUs-SAIL, NMDC and RINL plan to invest nearly Rs 15,000 crore next fiscal. Steel Authority of India (SAIL) will spend Rs 9,000 crore next fiscal, followed by iron ore miner NMDC Rs 4,345 crore and Rashtriya Ispat Nigam (RINL) Rs 1,600 crore to expand and modernise their operations.
An official statement said that under the Union Steel Ministry, the three firms had budgeted Rs 18,584 crore investment towards modernisation and expansions for the current fiscal, but it was later revised at Rs 15,820 crore. Till October, they have spent Rs 8,032 crore.
SAIL plans to invest Rs 2,234 crore in its Rourkela Steel Plant, Rs 1,280 crore in IISCO plant, Rs 800 crore in Durgapur plant and Rs 860 crore in the Bokaro plant among others.
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