Business Daily from THE HINDU group of publications
Thursday, Aug 31, 2006


News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Corporate - New Projects
Get Latest BSE Quote
SAIL urged to complete expansion ahead of schedule

Our Bureau

New Delhi , Aug. 30

The Minister for Steel, Mr Ram Vilas Paswan, on Tuesday asked Steel Authority of India Ltd (SAIL) to complete its expansion plan in a span of three years instead of the earlier schedule of five years.

The Minister interacted with the SAIL board after the new Chairman, Mr S.K. Rungta and other new directors assumed charge on Tuesday.

Mr Paswan called upon the SAIL board to take all steps to make the steel major strong and a leading enterprise in the global perspective.

The Minister asked the SAIL management to opt for the globally best and proven technology and make no compromise while implementing the modernisation and expansion plan.

There should be R&D application specific to the requirement of SAIL and the country, such as adoption of technology suiting usage of low-grade coal available in the country, he said. He also stressed on the need for SAIL to move fast and tie up supplies of coking coal.

NEW PROJECTS

The SAIL board on Tuesday gave approval to three new projects at an estimated cost of Rs 350 crore.

The projects include rebuilding of coke oven battery (COB) No. 6 at Bhilai Steel Plant at an investment of Rs 176 crore.

Another project approved is for installation of a computerised process system at steel melting shop (SMS)-II of Bokaro Steel Plant at an investment of Rs 31 crore.

Approval was also granted for the installation of main step down substation-V and transmission network at an investment of Rs 141 crore for evacuation of 280 MW power from new power plant-III being set up at BSP through a joint venture company of SAIL and NTPC.

More Stories on : New Projects | Steel | Steel Authority of India Ltd

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Sagar Cements plans pref offer


PTL rejects arbitration
When does private turn public?
Norway court favours Ranbaxy on atorvastatin
HC confirms SIV Ind's mines, stock sale
Essel Propack to acquire CavinKare's packaging arm
India Pistons may merge IP Power with itself
United Phosphorus to buy Bayer CropScience's products
Escorts to divest stake in Carraro
NCL Ind approves Deloitte's valuation
Ensuring `faithful representation' in financial reports
Alok Ind plans more exclusive stores
Mantri super premium apartment ready
SAIL urged to complete expansion ahead of schedule
Microsoft to set up centre for Vista migration in India
`No exemption from Clause 49 compliance'
HCG ties up with Ramaiah hospital
Poly Medicure scouting for strategic partner
Indo Asian forms venture with Spanish co Simon
Sanofi grant to Isha Foundation
ACE plans overseas acquisition
BMW to begin production in India early next year
Cos witness growth in profit margins
Sharma frontrunner for ONGC Chairman post


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line