New Delhi, Nov 21 (UNI) Steel Authority of India (SAIL) today said it plans to set up a steel processing unit in Uttar Pradesh at a cost of Rs 100 crore.
The unit, which will be completed within one and half years time, will produce 1,00,000 tonnes of iron bars annually.
The SPU is being set up with a view to make steel available to consumers in rural areas and thus directly serve a large number of small consumers, the company said in a statement.
The country's largest steel producer, at present, is setting up steel processing units in different states where it does not have any integrated steel production facility.
This will facilitate meeting the local market demand for tailor-made steel products and thereby help increase per capita steel consumption in rural areas.
The SPUs will use products like billets, produced by SAIL's main integrated steel plants, which will be converted to manufacture a wide variety of steel items that can be utilized by the common user, for construction of buildings and various structural works.
SAIL produces about 15 million tonnes of steel annually.
UNI SBA MP KN2057