May 17, 2008

SAIL to start production at Kulti in August 2008

Mr Ram Vilas Paswan union steel minister, while laying the foundation stone of a INR 50 crore bridge on Damodar river last week, said that West Bengal based Kulti Steel Works will commence production by August 2008 and the modernization of steelmaker IISCO steel plant was on schedule to meet the 2010 deadline.

Mr Paswan said that the revival of the IISCO steel plant and Kulti Steel would be the harbinger of development in West Bengal. SAIL is investing over INR 20,000 crore for the modernization and expansion of its units.

Describing IISCO and Kulti Steel as national heritage, he urged the state government to extend sales tax waiver for the Burnpur based steel unit beyond the March 31st 2008 timeline as the plant is yet to regain its net worth.