New Delhi: Having failed to achieve their capex targets last fiscal, three major state-owned firms - SAIL, NMDC and RINL - hope to meet cumulative Rs 15,820 crore target set for the current fiscal.
Expressing hope of achieving their targets at a meeting with Finance Minister P Chidambaram recently, Steel Authority of India has said its Rs 11,500 crore capex target for the current fiscal was on track.
Similarly, Rashtriya Ispat Nigam and country's largest iron ore producer NMDC have also expressed confidence in achieving their Rs 1,600 crore and Rs 2,720 crore capex targets for the 2013-14 fiscal, a source present in the meeting said.
These firms, which fall under the Steel Ministry, had failed to come even close to their capex targets last fiscal due to reasons ranging from delays on the part of contractors to unforeseen developments while executing projects.
