Indian state-run steel producer Steel Authority of India Limited (SAIL) has kicked-off its next phase of expansion and modernization of mills under its fold by firming up plans to expand the capacity of its IISCO Steel Plant (ISP) located in the eastern state of West Bengal, company sources said on Tuesday, September 5.
The sources said that the government has accorded ‘in-principle’ approval for expanding the capacity of ISP to 7 million mt per year from 2.5 million mt per year. The final approval is expected before March 3, 2024, following which SAIL will commence tendering for plant and equipment required for the expansion.
Details of the investment have not yet been disclosed by the company, the sources said.
SAIL has also initiated the process of expansion and modernization of its Durgapur Steel Plant (DSP), also located in West Bengal, and is currently finalizing a new product mix for the mill which has a current capacity of 2.2 million mt, the sources said.