The Hindu Business Line : SAIL gets Rs 650-cr budgetary support

STEEL Authority of India Ltd (SAIL) has been allotted a budgetary support of Rs 650 crore including internal and extra budgetary resource (IEBR) for the fiscal 2004-05 to carry out modernisation work at its four integrated steel plants and various divisions of the company.

Of the Rs 650-crore allotted to SAIL, Rs 174 crore will be used for Bhilai Steel Plant (BSP), Rs 50 crore for Durgapur Steel Plant (DSP), Rs 178 crore for Rourkela Steel Plant (RSP) and Rs 60 crore for Bokaro Steel Plant (BSL). Another Rs 2 crore has been provided for the Alloy Steels Plant and Salem Steel Plant.

In the case of BSP, the allocation will be as follows: Rs 80 crore will be used for setting up the company's long rail facilities and Rs 45 crore for the installation of a specialised UOE pipe plant. The remaining amount will be used for other ongoing additions, modification and replacement (AMR) schemes and for the balance payment of contract closure of completed projects.

In the case of DSP, Rs 36 crore will be made available for replacement of the second coal-charging car of the coke oven battery No 1, while the remaining will be used for other sundry expenses.

In the case of RSP, Rs 47.75 crore will be utilised for upgradation of electrical resistance welded pipe plant (ERWPP) and another Rs 76.84 crore for rebuilding of the coke oven battery No-1.

The upgradation plan for the Bokaro plant includes rebuilding of coke oven battery No 5 and other ongoing AMR schemes.

The remaining amount will be utilised for upgradation of other facilities and streamlining the functioning of the company's two subsidiaries.