In the present research work a systematic approach for maintenance planning and control (Six Step Method) has been applied on one of the critical unit, blast furnace section of steel plant as a case study. Down time has been reduced by analyzing the failure pattern of critical parts of all types of machines/ equipment’s. The study suggested that with proposed maintenance plan, downtime of Blast Furnace Section can be reduced by 20.31% and monetary benefit to the company due to new maintenance policy is of the order of Rs. 36, 50, 40, 000 INR. for one time maintenance in total life span of equipment.