New Delhi, March 10 (IANS) State-run steel maker Steel Authority of India (SAIL) plans to increase its annual capacity to 26 million tonnes by 2014 from the the current 14 million tonnes.

'By the end of 2012 during our first phase of expansion, we have a target to achieve production up to 23.46 million tonnes per annum. In the second phase, we have a target to reach 26.18 million tonnes per annum,' R.N Rawat, general manager, materials management, at SAIL said on the sidelines of a function here.

The expansion programme now underway would cost Rs.70,000-crore ($14 billion) and raise the annual production capacity to about 23 million tonnes by 2012 from the current 13 million tonnes.

SAIL has revised the annual production capacity to 23 million tonnes by 2012 from an earlier target of 26 million tonnes following the economic downturn worldwide.

The second phase of the expansion is expected to cost Rs.10,000 crore.