SAIL to invest Rupees 4 billion in DSP this year

SAIL to invest Rupees 4 billion in DSP this year

Steel Authority of India Ltd (DSP) announced plans to invest Rupees 4 billion ($91.8 million) in its subsidiary Durgapur Steel Plant (DSP) during the 2005-06 fiscal year. The investment is a part of a Rupees 28 billion ($642.5 million) modernization plan SAIL will conduct to increase the capacity of DSP. In line with the modernization plan, DSP's annual hot metal capacity will increase from the current 2 million tons to 3.2 million tons by 2012. The recently approved part of the modernization plan includes the establishment of a bloom caster and two ladle furnaces during the 2005-06 fiscal year. The bloom caster, for which Italian firm Danieli Centro is contracted, will have an annual capacity of 850'000 tons. The caster is scheduled to be operational by March 2006.