Durgapur Steel announces expansion plan, profits
Indian steel producer Durgapur Steel Plant (DSP), an affiliate of Steel Authority of
India Ltd (
SAIL), plans to invest Rupees 28 billion ($640 million) by 2012 in order to increase its annual
production capacity from 1.86 million tons to 3 million tons, sources report.
In addition to the company's expansion plan, DSP also reported that through the first nine months of the current fiscal year the company raked in a net profit of Rupees 4.75 billion ($108 million). The figure far outpaces the previous year's earnings of Rupees 810 million ($18.5 million).
DSP produced 200'000 tons of special steel products during the first nine months of the current fiscal year, up 38% compared to the year before.