PIB News Update: Steel is a de-regulated sector and the role of the Ministry is that of a facilitator. Decision regarding modernization of steel plant is taken by individual company based on techno-commercial considerations.
The two public sector steel companies viz. Steel Authority of India Limited (SAIL) and Rashtriya Ispat Nigam Limited (RINL) have modernised their steel plants progressively during the last decade. These include steel plants of SAIL at Bhilai (Chhattisgarh), Bokaro (Jharkhand), Rourkela (Odisha), Durgapur (West Bengal), Burnpur (West Bengal) and of RINL at Visakhapatnam (Andhra Pradesh).
Government of India has not allocated any funds for modernisation of steel plants. The modernisation of steel plants is funded by the respective steel sector company from its internal resources / borrowings.
This information was given by the Union Minister for Steel Shri Ram Chandra Prasad Singh in a written reply in the Rajya Sabha today.