SAIL Chairman Amarendu Prakash announced that the company has begun developing plans to increase its installed capacity by 15 million tonnes (MT) in the first phase.

According to Prakash, the facility has an installed steel-making capability of roughly 20 million tonnes per year (MTPA).

"It has been kicked off. In the first phase, we are expanding it to 35 MT. So, phase 1 is of 15 MT," the chairman said in a reply to a question on SAIL's expansion plans.

On the timeline and investment amount involved in the expansion plan, he said the company is actively working on detailed project reports (DPRs) and sharing any number will be a difficult task at present.

When asked about the funding model, Prakash said SAIL will use its own funds and also seek market support to fund the expansion.

"It (the funding) will be a mix of both internal accruals and market. The steel industry is a huge capex-intensive industry. So, we will be in the market for funds," he noted.