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Steel Authority of India Ltd (SAIL) has firmed up plans to build a state-of-the-art steel plant at Burnpur for ₹36,000 crore. This promises to be the single-largest investment in an industrial project in Bengal in recent years.
The project, which will be located near the existing IISCO steel plant with a capacity of 4.08 million tonnes (MT), has received initial board approval from Central PSU. The company is expected to finalise the party by end-October and then proceed to the second phase of board approval.
The PSU is looking at the project as a new unit rather than an expansion of the existing 2.5 MT plant, which is likely to go on stream by 2029. The new facility will come up in the area where there used to be an old plant.
The new plant will produce flat products (hot and cold rolled coils), which are used in automobiles and consumer durables, while the existing plant focuses on long products (wires, rods, bars) used in construction,
The new IISCO plant is part of SAIL’s ambitious target to scale up capacity to 35 MT from 20 MT by 2031, entailing a combined investment of ₹110,000 crores. It is expected to create a flurry of economic activity and boost the economies of adjacent regions in West and East Bardhaman, Purulia, and Bankura.
As part of this expansion phase, SAIL will consider adding fresh capacity across all of the company’s existing sites in Durgapur, Bokaro, Rourkela, and Bhilai. The management has prepared the pre-feasibility reports for Durgapur and Bokaro and plans to seek stage-1 approval from the board soon.
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