INDIAN IRON & STEEL

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The Second Indian Iron and Steel Company Expansion Project for India will finance a project to expand the company's steel rolling capacity. The Tata Iron and Steel Company, Limited (TISCO) is engaged in an expansion program primarily designed to increase its capacity to produce steel ingots from 1.1 million tons to two million tons, and its capacity to produce saleable steel from 780,000 to 1.5 million tons per annum. This expansion program consists of four parts: a modernization and expansion program (known as MEP), a program of further expansion (known as the Two Million Ton Program, or TMTP) designed to increase annual capacity to two million tons of ingots and 1.5 million tons of saleable products. This project is of high priority, and the potential benefits are considerable. The increase in output will provide a substantial addition to the amount of domestic steel available to meet the needs of the second five year plan, at a cost greatly below that of imported steel.