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Union Steel Minister emphasizes importance of capital expenditure in building steel infrastructure

The Steel CPSEs were directed to step up the pace of their CAPEX and to also streamline the processes for timely completion of projects

In order to review the progress of capital expenditure (CAPEX) by Steel CPSEs, the Union Steel Minister Ram Chandra Prasad Singh has held a meeting. The Steel CPSEs were directed to step up the pace of their CAPEX and to also streamline the processes for timely completion of projects.

During the detailed review of projects under implementation, the Union Minister also emphasized the importance of capital expenditure in building steel infrastructure to spur high and sustainable growth in the post pandemic period.

As per the notification released by the Ministry of Steel, the CMDs of Steel CPSEs viz. Steel Authority of India (SAIL), National Mineral Development (NMDC), Rashtriya Ispat Nigam (RINL), Kudremukh Iron Ore Company (KIOCL) and Manganese Ore (India) (MOIL) and senior officers of the Ministry of Steel attended the meeting.