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27 January 2012 at 16:35 IST
SAIL to add 5 million ton capacity during FY 13
NEW DELHI (Commodity Online): State owned and run Steel Authority of India Ltd (SAIL) (BSE: SAIL : 500113, NSE: SAIL) to invest $2.9 billion (145 billion rupees) on capital expenditure for adding 5 million tons capacity during fiscal. 2012-13.
According to SAIL, the local demand for steel is expected to grow 7% in the current fiscal year.
Meanwhile, company's annual production capacity is expected to rise to 19 million tons by the end of 2012-13 fiscal.
On BSE, SAIL traded up 7.02% to Rs 105.15 on Friday at 16:20 IST.
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