Steel worth Rs 1 crore vanishes from Sikkim hydro project, suspect held in Siliguri

Authorities have arrested one person following the theft of high-grade steel plates and iron rods valued at approximately Rs 1 crore, meant for Sikkim's 1200 MW Teesta-III Hydel Project in Chungthang, North Sikkim.

 

The missing materials—25 steel plates conforming to IS 2002 Grade-2 specifications and several iron rods—were part of a consignment being transported by Shree Balaji Logistics under a contract with Larsen & Toubro. The theft came to light during a routine stock audit conducted by the logistics firm, which uncovered a substantial shortfall in materials meant for the hydropower project.

 

Bipal Agarwal, partner at Shree Balaji Logistics based in Ward 43, filed a complaint at Bhaktinagar Police Station on Monday, naming Binod Kumar Bansal as the primary suspect. According to police sources, investigators are pursuing leads to identify additional accomplices believed to have orchestrated the theft.

 

The materials had been loaded for dispatch under a work order dated April 2, 2025. An internal investigation by the company suggests that Bansal, possibly working with certain logistics staff, allegedly diverted the materials from transport vehicles and sold them for personal profit. Agarwal described the incident as a carefully planned operation, warning that the stolen steel might be quickly melted or resold to destroy evidence.

 

Police have registered the case under sections of the Bharatiya Nyaya Sanhita 2023 relating to theft and criminal breach of trust. Agarwal has submitted supporting documentation, including work orders, lorry receipts, audit reports, employee statements and GPS tracking records.

 

The Teesta-III Hydel Project, a critical infrastructure development in North Sikkim, depends on steady supplies of premium-grade steel for the construction of its dam, tunnels and powerhouse. Authorities are working to recover the stolen materials and trace all individuals involved in the alleged conspiracy.