SOURCE: Industrial Info Resources

Industrial Info Resources

October 07, 2010 05:00 ET

Steel Authority of India to Ramp Up Captive Power Generating Capacity to Meet Demand by 2020, an Industrial Info News Alert

BANGALORE, INDIA--(Marketwire - October 7, 2010) -  Researched by Industrial Info Resources (Sugar Land, Texas) -- Leading Indian public-sector steel maker Steel Authority of India Limited (BSE:500113) (SAIL) (New Delhi) will add captive power generating capacity to meet the growing demand from the company's mines and steel plants. Making the announcement at the recent 38th Annual General Meeting, Chairman C.S. Verma of SAIL said that by 2020, the company's power demand is likely to reach 4,600 megawatts (MW). In April this year, the company signed a joint venture agreement with POSCO (NYSE:PKX) (Pohang, South Korea) to build a $3.36 billion, 1.5 million-ton-per-year steel production facility at Bokaro in Jharkhand.

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