PTI reported that Indian steel giant Steel Authority of India Limited has charted investment of INR 150,000 crore till 2030-31 to ramp up steel production from 23 million tonnes to 50 million tonnes.

Mr CS Verma chairman of SAIL said that "We have prepared an investment plan of INR 1,50,000 crore till fiscal 2030-31 to increase the steel production capacity to 50 million tonnes from 23-24 million tonnes now."

Mr Verma said that the proposal would be presented before the board shortly for approval.

He indicated that the investment line up would encompass both brownfield and greenfield expansion and about INR 40,000 crore will be invested in West Bengal in new capacities and allied activities, including mining.