Manufacturing capacity of state owned Steel Authority of India Limited will go up to 19 million tonne next fiscal from 14 million tonne now, with the start of production in two blast furnaces.

Mr CS Verma chairman of SAIL on the sidelines of the Global Steel Summit said that "Two blast furnaces will start production next fiscal. This will help us to raise our steel capacity to 19 million tonne from 14 million tonne now.”

Mr Verma said that SAIL's INR 12,650 crore capital expenditure plan for the current fiscal was the highest in its history. Next fiscal, it will go up further to INR 14,500 crore.

SAIL has embarked on a whopping INR 72,000 crore expansion plan intending to take its steel making capacity to 24 million tonne by 2013-14. The company also plans to further expand its capacity to 45 million tonne by 2020.

(Sourced from ET)