BANGALORE, INDIA--(MARKET WIRE)--Sep 5, 2008 -- Researched by Industrial Info Resources (Sugar Land, Texas) -- State-run Steel Authority of India Limited (BOM:500113) (SAIL) (New Delhi) plans to invest about $400 million to set up nine steel processing units (SPUs) in six Indian states where it does not have a presence. While only the land has been acquired for some units, other units are already under construction. Each unit has been planned with a timeline of 24 months from construction to production. The SPUs are intended to meet the market demand for ready-made steel products. SAIL products such as billets, hot rolled coils, and thermo-mechanically treated bars will be used by the SPUs to manufacture a large variety of steel products for domestic use.

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