Salem Steel Plant (SSP) of the 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. The strips, to be used for minting coins, will be supplied in grade 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/strips for coinage purposes. During April-December of the current financial year, stainless steel production by SSP touched 64,000 tonnes, an increase of around 30% over the corresponding period last year.
SAIL is presently expanding SSPÔÇÖs production capacity at an estimated cost of Rs. 1,553 crore as part of its own Corporate Plan 2010. M.N. Dastur & Company (P) Ltd of Kolkata has been appointed as the consultant-cum-project manager for the plantÔÇÖs expansion scheme. Under the plan, new steel melting and continuous casting facilities will be installed to enable the plant to produce 180,000 tonnes per annum (tpa) of stainless steel slabs. The capacity of SSPÔÇÖs existing Cold Rolling Complex will also be expanded to hike production of cold-rolled stainless steel to 146,000 tpa.