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We learned that on June 13, 2024, SAIL India announced an investment of $4.31 billion to build a new steel plant at its existing plant base of Indian A1008 Grade 50(340) steel mills Steel Company (ISP) located in Burpur, West Bengal.
It is understood that the annual crude steel production capacity of this new steel plant will reach 4.08 million tons. The selection of project implementation manufacturers is currently underway and will be completed by the end of October.
Although the project will still be carried out within the ISP plant area, SAIL India has decided to build a new steel plant within the existing ISP with an annual production capacity of 2.5 million tons, rather than expanding the existing plant.
The existing steel A1008 Grade 50(340) steel mills plants mainly produce long products such as steel bars, wire rods, and bars. The new steel plant will mainly produce sheet metal, hot rolled and cold rolled, and is expected to start production in 2029.
This project is the first step of SAIL's plan to invest $13.25 billion to increase its total production capacity from 20 million tons to 35 million tons. In addition to ISP, SAIL India also plans to build and expand its existing steel A1008 Grade 50(340) steel mills in Durgapur, Rokla, Blai, and Boccaro.
