On Monday, the Parliament was informed that four SAIL projects totalling Rs2,338 crore are experiencing delays as a result of issues with the placement of orders and the delivery of materials and equipment. But, according to Union Steel Minister Jyotiraditya M. Scindia in a response to the Rajya Sabha, there has been no cost overrun on these projects.
According to the minister’s information, SAIL is working on two projects: one is the installation of a new sinter plant at its Bokaro Steel Plant in Jharkhand, which will cost Rs1,111 crore, and the other is the modification of the washing circuit of the CSW plant of the Dalli mines in Chhattisgarh.
For its Rourkela Steel Plant in Odisha, SAIL is also replacing coke oven battery 2 (COB-2) and expanding its coke handling and gas handling capabilities, he added. At its Bhilai Steel Plant in Chhattisgarh, SAIL is reconstructing COB-7 and 8, costing Rs625 crore.
‘Project delays are primarily caused by poor performance by contractors and subcontractors, inadequate resource mobilization by contractors, delays in placing orders and the supply of materials and equipment, etc. There isn’t a cost excess, yet ‘ Schinda told the Upper House.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.