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Salem Steel's expansion

Special Correspondent

SALEM: Salem Steel Plant (SSP) has finalised the formalities of floating tenders to identify the project consultant for its Rs. 1,553-crore expansion project, which will be undertaken in two phases — steel melting at a cost of Rs. 550 crore and cold rolling at an investment of Rs. 900 crore. The expanded plant is expected to go on stream by the end of 2009. The unit is coming up on 400 acres in the existing complex.

Explaining the features of the project, Executive Director, PM. Balasubra-manian, told the media here on Saturday that the plant had performed well by registering a growth of 65 per cent by selling 44,125 tonnes of stainless steel products up to October in the current financial year. Sale of carbon steel products was 68,214 tonnes with a growth rate of 127 per cent.

The expansion would ensure the unit to become as a leader in the stainless steel market, he said.

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