The state-owned Indian steel producer, Steel Authority of India Limited (SAIL), is embarking on the next phase of its expansion and modernization efforts for its mills. According to company insiders on Tuesday, September 5, SAIL has set in motion plans to increase the capacity of its IISCO Steel Plant (ISP) situated in the eastern state of West Bengal.
These insiders have revealed that the government has granted 'in-principle' approval for expanding ISP's capacity from 2.5 million metric tons per year to 7 million metric tons per year. The final approval is anticipated to be granted prior to March 3, 2024, at which point SAIL will initiate the tendering process to acquire the necessary plant and equipment for the expansion.
Details regarding the financial investment in this project have not yet been disclosed by the company, as per these sources.
Additionally, SAIL is concurrently progressing with the expansion and modernization of its Durgapur Steel Plant (DSP), also situated in West Bengal. The company is currently in the process of finalizing a new product mix for DSP, which currently has a capacity of 2.2 million metric tons, according to the same sources.
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