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…