SAIL to spend Rs 75 bn to modernise plants
Source: IRIS | 02 Sep, 2015, 05.09PM
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 Steel Authority of India (SAIL), leading state-run steel maker, on Wednesday announced that the company will spend Rs 75 billion on modernisation and expansion programme of its plants and augmentation of raw material supplies from its own mines in FY16.
 The company has already spent about Rs 588.21 billion on its expansion programme till May 2015.
The board of directors of the company will seek shareholders nod to raise the funds through private placement of secured non-convertible debentures and bonds to the extent of Rs 50 billion during the year. Shares of the company declined Rs 0.3, or 0.64%, to settle at Rs 46.50. The total volume of shares traded was 797,881 at the BSE (Wednesday).
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