Indian state-run steelmaker Steel Authority of India Limited (SAIL) will invest an estimated $5.48 billion to ramp up capacity of its Rourkela Steel Plant (RSP) in the eastern state of Odisha from 4.5 million mt per year to 10 million mt per year, a company official said on Wednesday, November 14.
The company said that the investment will make RSP the largest steel mill under the fold of SAIL.
The investment will start as soon as the current round of modernization of RSP is completed expected by the end of the current fiscal year, the official said.
RSP’s new hot strip mill (HSM) will be completed within the next few months, which will enable the steel mill to produce another 3 million mt of high-grade hot rolled coil (HRC), which in turn will be supplied to cold rolling mills for production of auto grade steel, the official said.
RSP has also completed the installation of an additional heat treatment plant for its special plate plant for production of advanced steel products dedicated for supplies to defense equipment manufacturers, the official said.