Prime Minister Narendra Modi on 10 May 2015 inaugurated the upgraded IISCO Steel Plant (ISP) in Burnpur, West Bengal. The ISP houses the largest blast furnace of India.
The ISP was modernised by the Union Government at a cost of 16000 crore rupees. After modernisation, the plant's production capacity has increased from 0.85 million tonnes per annum (mtpa) to 2.9 mtpa.
The revamped plant in Burnpur is spread across 953 acres. It is the fifth integrated steel plant of SAIL. Also, the new plant is equipped with the latest green technologies with zero emission.
The revamped plant has already achieved some major milestones, both in production and quality, since 2014. It has started operating the continuous casting plant, and the first batch of 8-mm thermo-mechanical treatment (TMT) bars was produced in January 2015. The company's reserves of iron ore are the largest in Asia.
The modernization will held India in attaining the target of producing 300 million tonnes of steel by 2025 to meet industry demand. Also, it will help SAIL in achieving the target of enhancing production capacity to 50 million tonnes by 2025.
Indian Iron and Steel Company (IISCO) was taken over by the Union Government in 1972 as part of a nationalisation drive and made a fully-owned subsidiary of SAIL in 1978. It was thereafter renamed ISP.
Now get latest Current Affairs on mobile, Download # 1 Current Affairs App
When: 10 May 2015