Hyderabad, Steel Authority of India Ltd will invest Rs 6,500 crore in capital expenditure during the current financial year as part of its investment plan of Rs 1 lakh crore over the next few years, SAIL CMD Amarendu Prakash said on Friday.
Speaking to reporters on the sidelines of a program organized by the Indian Steel Association here, Prakash said the steel industry had approached the government seeking measures to check dumping of cheap metal by China into India and hoped that measures be taken to address the threat.
"This year, the capex target is Rs 6,500 crore. We also have regular capex for maintenance of our facilities as well as de-bottlenecking exercises. Most of the capex expansion (Rs 1 lakh crore by 2030) will start flowing from FY26.
In the first phase, from (capacity) 20 million tonnes, we will go to 35 million tonnes per annum by 2031. In the next phase, we will go up to 50 million tonnes,” SAIL CMD told reporters.
In the past, SAIL management had informed investors about a planned investment of Rs 1 lakh crore in its plants for greenfield and brownfield expansions over the next 3-4 years, with an aim to maintain a debt-equity ratio of 1:1.
On steel prospects, he said the world is growing at 0.5 per cent, while India grew at 13 per cent last year and will continue to grow at a CAGR of 8 per cent in the next 10 years.
On importing cheap steel from China, he said that around the world countries have taken different measures such as increasing taxes on imports and India is also expected to take calibrated measures.
"There are various ways in which trade measures are handled. So it's not just a single percentage figure. We need to look at the quality of the steel that comes to India, the prices at which the steel comes to India." , he claimed. the official said.
India last year reportedly extended the imposition of an anti-dumping duty on certain Chinese steel for another five years.
Speaking to reporters on the sidelines of a program organized by the Indian Steel Association here, Prakash said the steel industry had approached the government seeking measures to check dumping of cheap metal by China into India and hoped that measures be taken to address the threat.
"This year, the capex target is Rs 6,500 crore. We also have regular capex for maintenance of our facilities as well as de-bottlenecking exercises. Most of the capex expansion (Rs 1 lakh crore by 2030) will start flowing from FY26.
In the first phase, from (capacity) 20 million tonnes, we will go to 35 million tonnes per annum by 2031. In the next phase, we will go up to 50 million tonnes,” SAIL CMD told reporters.
In the past, SAIL management had informed investors about a planned investment of Rs 1 lakh crore in its plants for greenfield and brownfield expansions over the next 3-4 years, with an aim to maintain a debt-equity ratio of 1:1.
On steel prospects, he said the world is growing at 0.5 per cent, while India grew at 13 per cent last year and will continue to grow at a CAGR of 8 per cent in the next 10 years.
On importing cheap steel from China, he said that around the world countries have taken different measures such as increasing taxes on imports and India is also expected to take calibrated measures.
"There are various ways in which trade measures are handled. So it's not just a single percentage figure. We need to look at the quality of the steel that comes to India, the prices at which the steel comes to India." , he claimed. the official said.
India last year reportedly extended the imposition of an anti-dumping duty on certain Chinese steel for another five years.
