SAIL will invest Rs 1.36 billion for production increase
The Indian steel producer Steel Authority of
India Ltd. (
SAIL) is planning to invest Rs 1.36 billion ($28.6 million) aiming to increase productivity of its plants, namely Durgapur Steel Plant and Rourkela Steel Plant, which are expected to become profitable operations in 2003.
According to market sources, constructing a ladle furnace in melting shop of Durgapur Steel Plant at a cost of Rs 233.3 million ($4.9 million) has receieved approval in principle from the board. This new ladle furnace will raise the quality as well as
production volume of continuously cast (CC) billets and decrease the plant's
production cost by lowering energy utilization. Another investment plan for reconstruction of a twenty one year old coke oven battery (COB) into a environment friendly battery has also receieved aprroval from the board of
SAIL. It is anticipated that reconstruction of the battery which stopped
production in December, 2000 and unbuild in April, 2002, will cost company Rs 1.13 billion and be concluded by April 2005.