SSP receives 11,300 tonne supply order from govt mint

By Staff
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Google Oneindia News

New Delhi, Feb 1 (UNI) Salem Steel Plant (SSP), Ltd an independent mint of the public sector Steel Authority of India Ltd (SAIL), has bagged an order for supply of 11,300 tonnes of ferritic stainless steel strips to the government of India mint at Kolkata for casting of monetary coins.

According to company sources, the strips will be supplied in grades of 430 in two widths and thicknesses, as specified by the mint. SSP will supply the first lot of the Rs 117-crore order within this month.

SSP, in collaboration with the government of India mints, pioneered the use of stainless steel coinage in the country. The Tamil Nadu-based plant produces both coin blanks and stainless steel coils and strips for coinage purposes.

During April-December period of the current financial year, stainless steel production by SSP touched 64,000 tonnes, an increase of about 30 per cent over the corresponding period last year.

SAIL is presently expanding SSP's production capacity at an estimated cost of Rs 1,553 crore as part of its Corporate Plan 2010.

M N Dastur and Company (P) Ltd of Kolkata has been appointed as the consultant-cum-project manager for the plant's expansion. Under the plan, new steel melting and continuous casting facilities will be installed to enable the plant to produce 1,80,000 tonnes per annum (tpa) of stainless steel slabs.

The capacity of SSP's existing Cold Rolling Complex will also be expanded to hike production of cold-rolled stainless steel to 1,46,000 tpa.

UNI

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