SAIL invests Rs 2,600 crore in Rourkela plant for new unit

• Domestic steel giant SAIL is investing over Rs 2,600 crore for installing a three million tonnes per annum facility for hot rolled (HR) coils at its Rourkela plant to make auto-grade and special steel products.
• The Maharatna firm has awarded the contract for setting up this hot strip mill to a consortium led by Mitsubishi and Larsen & Toubro.
• SAIL is also finalising its Vision 2025 document, through which it aims to increase its hot metal production capacity to 50 million tonnes, along with related business activities.
• In 2014-15, SAIL spent Rs 284 crore on R&D, the highest by any steel maker in India.

Source: ET