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1959–1973
SAIL traces its origin to the Hindustan Steel Limited which was set up on 19 January 1954. It was initially designed to manage only one plant that was coming up at Rourkela.
For Bhilai and Durgapur Steel Plants, the preliminary work was done by the Iron and Steel Ministry. From April 1957, the supervision and control of these two steel plants were also transferred to Hindustan Steel. The registered office was originally in New Delhi. It moved to Calcutta in July 1956, and ultimately to Ranchi in December 1959.
A new steel company, Bokaro Steel Limited , was incorporated on 29 January 1964 to construct and operate the steel plant at Bokaro. The 1 MT phases of Bhilai and Rourkela Steel Plants were completed by the end of December 1961. The 1 MT phase of Durgapur Steel Plant was completed in January 1962 after commissioning of the Wheel and Axle plant. The crude steel production of HSL went up from 1.58 MT to 1.6 MT. The second phase of the Bhilai Steel Plant was completed in September 1967 after commissioning of the Wire Rod Mill. The last unit of the 1.8 MT phase of Rourkela – the Tandem Mill – was commissioned in February 1968, and the 1.6 MT stage of Durgapur Steel Plant was completed in August 1969 after commissioning of the Furnace in SMS. Thus, with the completion of the 2.5 MT stage at Bhilai, 1.8 MT at Rourkela, and 1.6 MT at Durgapur, the total crude steel production capacity of HSL were raised to 3.7 MT in 1968–69 and subsequently to 4 MT in 1972–73. IISCO was taken over as a subsidiary in 1978 and later merged in 2006.
Holding Company
The Ministry of Steel and Mines drafted a policy statement to evolve a new model for managing the industry. The policy statement was presented to the Parliament on 2 December 1972. On this basis, the concept of creating a holding company to manage inputs and outputs under one roof was mooted. This led to the formation of The Steel Authority of India Ltd. The company, incorporated on 24 January 1973 with an authorized capital of ?2,000 crore , was made responsible for managing five integrated steel plants at Bhilai, Bokaro, Durgapur, Rourkela and Burnpur, the Alloy Steel Plant and the Salem Steel Plant. In 1978 SAIL was restructured as an operating company.
