SAIL to set up new rail mill with $8 million investment: Chairman Prakash

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SAIL to set up new rail mill with $8 million investment: Chairman Prakash - Business Standard

Quick Summary:

The company has decided to go ahead with the investment plan despite not having any order indication from its largest buyer Indian Railways, Prakash said at a panel discussion at the Global Business Summit (GBS) in the national capital.

SAIL is bullish on the demand for rails in the country and has decided to set up a new rail mill at an investment of USD 800 million, the company's Chairman Amarendu Prakash said on Saturday.

"Last week, we decided to put up an 800 million USD investment into a mill, because I am confident that railways will go nowhere and they will have to buy from me if I put up a mill.