New Delhi, Aug. 30
The Minister for Steel, Mr Ram Vilas Paswan, on Tuesday asked Steel Authority of India Ltd (SAIL) to complete its expansion plan in a span of three years instead of the earlier schedule of five years.
The Minister interacted with the SAIL board after the new Chairman, Mr S.K. Rungta and other new directors assumed charge on Tuesday.
Mr Paswan called upon the SAIL board to take all steps to make the steel major strong and a leading enterprise in the global perspective.
The Minister asked the SAIL management to opt for the globally best and proven technology and make no compromise while implementing the modernisation and expansion plan.
There should be R&D application specific to the requirement of SAIL and the country, such as adoption of technology suiting usage of low-grade coal available in the country, he said. He also stressed on the need for SAIL to move fast and tie up supplies of coking coal.
The SAIL board on Tuesday gave approval to three new projects at an estimated cost of Rs 350 crore.
The projects include rebuilding of coke oven battery (COB) No. 6 at Bhilai Steel Plant at an investment of Rs 176 crore.
Another project approved is for installation of a computerised process system at steel melting shop (SMS)-II of Bokaro Steel Plant at an investment of Rs 31 crore.
Approval was also granted for the installation of main step down substation-V and transmission network at an investment of Rs 141 crore for evacuation of 280 MW power from new power plant-III being set up at BSP through a joint venture company of SAIL and NTPC.