Kulti plant may restart
Steel Authority of India Ltd (SAIL) has decided to reopen the Kulti Works, the oldest steel unit in the country which had closed 5years back in April 2003 after the employees were given VRS.
SAIL had started scouting for private companies who might be interested to take over the plant. Some of the companies like Tata Metalliks & Ruia group showed interest to take over the plant.
After the meeting with the Chief Minister of W.B, SAIL chairmen announced that SAIL has decided to revive Kulti which was set up in West Bengal in 1870 as Bengal Iron works.The plant is spread over 230 acres & has total area of approx 850 acres which houses approx 2300 residential units .The plant was manufacturing CI spun pipes & castings.
SAIL has big expansion plans & is likely to invest in next 3-4 years about Rs 17,000 crore in IISCO Steel Plant; Rs 6,500 crore in Durgapur Steel Plant; and Rs 500 crore in Alloy Steel Plant.
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