New Delhi State-owned steelmaker SAIL on Thursday said it will expand its production capacity to 18 million tonne (mt) from existing 14 mt by the end of current financial year.

"Our Phase-I capacity expansion target is 24 mt. Of that, this year we will be starting two new blast furnaces, our total hot metal production capacity will go up to 18 MT by the end of the (financial) year," SAIL chairman CS Verma said.