Maharatna PSU Steel Authority of India (SAIL) will invest an additional Rs 42,000 crore in West Bengal over the next 10 years.
Maharatna PSU Steel Authority of India (SAIL) will invest an additional Rs 42,000 crore in West Bengal over the next 10 years under its capacity expansion programme, Union steel minister Narendra Singh Tomar said on Sunday.
“Bengal will be our focus when we carry out expansion to reach our 50 million tonne (mt) capacity goal,” Tomar said during the inauguration of the revamped and modernised IISCO steel plant. Sail currently has an installed capacity of 19.5 mt.
Tomar said his ministry had set a target of 300 mt steel production by 2025 and West Bengal would have a majority share in that. “We are planning further expansion in IISCO and Durgapur Steel Plant. The total investment in these two projects will be Rs 35,000 crore,” he said.
SAIL has invested a total of Rs 16,400 crore in IISCO’s modernisation. The programme was initiated in 2006. Talking to media after the event, Sail chairman CS Verma said the PSU had drawn up plans to double IISCO’s capacity from the current 2.8 mt (after the present expansion) to 5.6 mt, for an investment of Rs 17,000 crore.