Salem Steel, SAIL bag a huge order

By TNN | Feb 01, 2007, 06.30 PM IST

Mumbai: Salem Steel Plant (SSP) of the Steel Authority of India (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, is claimed to have 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 SSP's production capacity at an estimated cost of Rs. 1,553 crore as part of its own Corporate Plan

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