Sunday, July 30 2006 13:31 Hrs (IST) - World Time -

Kolkata: State-owned Steel Authority of India Ltd (SAIL) will invest over Rs 10,300 crore in two integrated steel plants in West Bengal.

Out of the total investment, IISCO, which recently merged with SAIL, would receive a lion's share of Rs 9,592 crore for undergoing thorough modernisation and capacity expansion.

The SAIL board has given in principle approval to the investments.

The capacity of IISCO would be increased to 2.5 million tonne from the current 0.5 million tonne in four to five years time with efforts being made to advance the time schedule, SAIL sources here told sources.

The investment would form part of SAIL's ambititous corporate plan which would take its capacity to 22.5 million tonne by 2011-12 from the existing 13 m.T.

The sources said that tender would be floated shortly for the expansion and modernisation work and the company would place the orders as early as possible.

Under the expansion and modernisation programme, a 4,600 cubic metre capacity blast furncace, the biggest in SAIL plants, would be installed in IISCO, the sources said.