The following year IISCO will increase steel production by 5 times

The modernization of the oldest steel plant in India, owned by the Indian Iron and Steel Company (IISCO), will end at the beginning of next year. It is assumed that the technical re -equipment of the plant will help iisco increase labor productivity and increase the volume of products.

According to IISCO sources, the technical update of the plant will be completed in March 2014 and will coincide with the next inauguration of Manmokhan Singh to the post of Prime Minister of India. After re -equipment, the company will be able to produce 2.5 million tons of steel annually, which is more than 5 times more than the current volume of smelting estimated at 0.4 million tons per year.

The modernization of the enterprise, built about 100 years ago, was started on December 24, 2006 and cost isco in 170 billion Indian rupees ($ 2.75 billion). At the same time, initially it was planned to spend 90 billion rupees ($ 1.5 billion) for this.

Recall that in the 60s of the last century, the main IISCO plant survived a large crisis associated with the technological lag from competitors and the inability to adopt modern production technologies. In the early 70s, due to constant protests of workers, dissatisfied with working conditions, the factory affairs went even worse than before.

All this led to the fact that in July 1972, the Indian government bought the company from the previous owners and changed its legal status. Since then, the plant has been a subsidiary of the Indian State Metallurgical Concern Steel Authority of India limited (Sail).