Rehabilitating Indian Iron

Rehabilitating Indian Iron Hansavivek INDIAN IRON AND STEEL COMPANY's new custodian, A Ray, envi- sages bright prospects for the company after a full-scale rehabilitation programme, estimated to cost Rs 45.9 chores, is implemented. The programme will bring the plant's capacity back to one million ingot tonnes by 1976. A consortium of lending institutions, headed by IDBI, has offered the company a loan of Rs 43 crores. Work on the programme has already commenced and Rs 6.75 crores had been spent on essential equipment upto the end of July last. According to the custodian's estimates, ingot production at the plant should go up to 6,48 lakh tonnes in 3973-74 and to 7.37 lakh tonnes and 9.82 lakh tonnes, respectively, in the subsequent two years. The output of saleable steel is expected to rise from 5.03 lakh tonnes to 5.90 lakh tonnes and to 7.86 lakh tonnes in this period. In 1972-73, however, production of steel ingots fell to 4.31 lakh tonnes and of saleable steel to 3.47 lakh tonnes from 6.17 lakh tonnes and 5 lakh tonnes, respectively, in the previous year.