Business EconomyPosted at: Oct 25 2026 3:23PM


Bengal: SAIL clears Rs 1,714-crore modernisation plan for Durgapur's Alloy Steels Plant

Durgapur, Oct 25 (UNI) The Steel Authority of India Limited (SAIL) has approved a Rs 1,714-crore expansion and modernisation plan for its Alloy Steels Plant (ASP) in Durgapur, raising hopes of a revival for the unit after years of losses, unsuccessful disinvestment attempts and speculation over its merger.
The Stage-I approval was granted at the 537th SAIL Board meeting. The project is scheduled to be completed within 30 months of receiving Stage-II clearance, senior ASP officials said.
According to the approval communicated by SAIL Director (Projects) B V Jagannath to the Director-in-Charge of Durgapur Steel Plant (DSP), the core expansion project will cost Rs 1,601.94 crore, including a foreign exchange component of Rs 138.24 crore for technology and equipment.
An additional Rs 112.13 crore has been earmarked for linked packages and enabling works, Rajat Dixit, INTUC president of SAIL units in Durgapur, told The Statesman.
The Board has authorised the Director-in-Charge of DSP, who also heads ASP, to incur expenditure on preparatory work under the company's Delegation of Powers to facilitate an early start to the project.
Established in 1965 to manufacture speciality steels for the defence, automotive and bearing industries, ASP had struggled with obsolete technology and low capacity utilisation. Its capacity utilisation had reached a maximum of only 38 per cent in 2016-17, resulting in sustained losses.
The Centre granted in-principle approval for the plant's strategic disinvestment in 2016. SAIL subsequently invited expressions of interest in 2018 and 2019, but neither attempt attracted a qualified bidder. The proposed sale was eventually put on hold in 2020, a senior ASP official said.
SAIL later adopted a revival strategy by merging ASP with DSP. union Steel Minister H D Kumaraswamy announced the merger last July following his visit to the two plants in Durgapur. Hot-metal supplies were linked from DSP to ASP, while both units were placed under a common director-in-charge to improve operational coordination.
Industry sources said the latest investment would enable ASP to upgrade its production of high-grade alloy and speciality steels for the defence, railway and automotive sectors, while benefiting from DSP's hot-metal supply and shared management. Once completed, the project is expected to significantly increase speciality steel production capacity in eastern India.
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