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Wednesday, Feb 09, 2005

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Durgapur Steel to invest Rs 2,800 cr on capacity expansion

Our Bureau

Kolkata , Feb. 8

DURGAPUR Steel Plant (DSP), which registered a net profit of Rs 81 crore in the last financial year, is set to record even higher profits this fiscal. In the first nine months of this financial year, its net profit has touched the Rs 475-crore mark.

According to a senior DSP official, the plant has registered marginal growth rates in all major areas of production but added that it is expected to better the performance in the remaining two months.

DSP focussed on special steel this year. Its production in the first nine months increased by 38 per cent to end at around two lakh tonnes against 1.21 lakh tonnes produced in the corresponding period of the previous year.

The plant has developed S-profile locomotive wheels for the Indian Railways, which are currently under field trials. These wheels have a higher heat dissipation capability during braking and can be used at high speeds.

According to SAIL corporate sources, DSP will be investing Rs 2,800 crore during the next seven years to increase its capacity to 3 million tonnes a year from the present level of 1.86 million tonnes.

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