Union Steel Minister Reviews Capital Expenditure (CAPEX) of Steel CPSEs; Emphasized Importance of Timely Completion of Project Works

The Union Steel Minister, Shri Ram Chandra Prasad Singh chaired a meeting here today to review the progress of capital expenditure (CAPEX) by Steel CPSEs against their annual target of Rs. 13,300 crores for the year 2021-22. Shri Faggan Singh Kulaste, Minister of State for Steel and Rural Development, the CMDs of Steel CPSEs viz. SAIL, NMDC, RINL, KIOCL MOIL and MECON and senior officers of the Ministry of Steel attended the meeting.

The Union Minister reviewed the progress of CAPEX projects of the Steel CPSEs and once again emphasized the utmost importance of timely completion of project works. He advised setting daily targets and close monitoring for time-bound project implementation. This achievement of targets shall motivate the workforce, enhance India’s steel production and spur higher growth. He directed CMDs to redouble efforts to ensure that there are no slippages in milestones for achieving the project targets for the year 2021-22.

The Steel Minister reviewed the capital expenditure done till November in FY 2021-22, by PSUs. Shri Singh advised the CMDs to plan for the remaining period of Fin Year on a daily basis to meet the shortfall in target achievement.

Disclaimer : This is an official press release by PIB.