Update: The PIB http://pib.nic.in/release/release.asp?relid=33543 is a Rajya Sabha answer on this topic.

Following are excerpts from a Times of India report.

The Steel Authority of India (SAIL) on Wednesday unveiled plans to expand and modernise the Rourkela Steel Plant (RSP) with an investment of Rs 7,800 crore. RSP, which presently has a capacity of 2.2 million tonnes per annum, would be converted into a four MTPA facility by June, 2010. Its production would be further enhanced to eight MTPA by 2019-20, said company’s director (personnel and raw materials) G Ojha here. According to Ojha, RSP’s expansion is part of SAIL’s plan to invest Rs 49,000 crore in its different units and mines within the next three to three-and-half years. … Ojha said that post-expansion, SAIL’s production capacity would touch 26 MTPA of hot metal compared to its existing capacity of 14.6 MTPA. This would mean 23 MTPA of saleable steel," he informed. The company also intends to spend a substantial sum of money to improve its mining operations, including over Rs 1,100 crore in Orissa, he added. Regarding SAIL’s recent MoU with South Korean company Posco, the director said, "We want to indulge in exchange of technology and people. "We also plan collaboration in research and development activities and accordingly, an eight-member team, comprising four from each company, has been formed. This is just the beginning," he said. He allayed fears that the MoU could lead to SAIL’s privatisation and clarified that the pact was not legally enforceable and just an understanding for collaboration. … The SAIL director also reiterated the company’s interest to takeover the Neelachal Ispat Nigam Limited (NINL) in Orissa’s Jajpur district and said, IDBI, as an independent valuer, has already assessed the company’s worth. "In case the stakeholders (MMTC and Orissa government) have any reservations, then we are ready for further parleys. But, ideally, the valuers version should be honoured," he said.