Increase in Demand of Steel
The Minister of State for Steel Shri Beni Prasad Verma has said that demand for steel in the country has been rising continuously. Data on consumption and production of finished steel in the country during the last five years given below indicate that the consumption and production of finished steel in the country have been growing
In a written reply in the Rajya Sabha today he said, Steel is a de-regulated sector. In a de-regulated, liberalized economy, decisions related to capacity expansion and modernization of steel projects are taken essentially by the steel producing units depending upon various factors such as commercial merits, market trends, demand and supply etc. The Government in such an open market economy has the role of a facilitator only and in that capacity, it promotes/encourages growth of steel industry through suitable policy measures. The Government has constituted an Inter-Ministerial Group (IMG), under the chairmanship of Secretary (Steel) in 2007, to monitor and coordinate the issues concerning major steel investments in the country related to infrastructure, raw material supply, environmental clearance and other resource constraints.
The Minister said, both the public sector steel companies namely Steel Authority of India Ltd. (SAIL) and Rashtriya Ispat Nigam Ltd. (RINL) are in the process of expanding their crude steel capacities. SAIL is planning for expansion of its capacity from 12.84 million tonnes to 21.4 million tonnes of crude steel. Similarly, RINL is carrying out expansion of its capacity from current 2.9 million tonnes to 6.3 million tonnes of crude steel. Another public sector company, namely NMDC Ltd., is to set up a 3 million tonnes per annum integrated steel plant at Nagarnar, Chhattisgarh. The Plant is likely to be commissioned in 2014.
The Minister of State for Steel Shri Beni Prasad Verma has said that demand for steel in the country has been rising continuously. Data on consumption and production of finished steel in the country during the last five years given below indicate that the consumption and production of finished steel in the country have been growing
In a written reply in the Rajya Sabha today he said, Steel is a de-regulated sector. In a de-regulated, liberalized economy, decisions related to capacity expansion and modernization of steel projects are taken essentially by the steel producing units depending upon various factors such as commercial merits, market trends, demand and supply etc. The Government in such an open market economy has the role of a facilitator only and in that capacity, it promotes/encourages growth of steel industry through suitable policy measures. The Government has constituted an Inter-Ministerial Group (IMG), under the chairmanship of Secretary (Steel) in 2007, to monitor and coordinate the issues concerning major steel investments in the country related to infrastructure, raw material supply, environmental clearance and other resource constraints.
The Minister said, both the public sector steel companies namely Steel Authority of India Ltd. (SAIL) and Rashtriya Ispat Nigam Ltd. (RINL) are in the process of expanding their crude steel capacities. SAIL is planning for expansion of its capacity from 12.84 million tonnes to 21.4 million tonnes of crude steel. Similarly, RINL is carrying out expansion of its capacity from current 2.9 million tonnes to 6.3 million tonnes of crude steel. Another public sector company, namely NMDC Ltd., is to set up a 3 million tonnes per annum integrated steel plant at Nagarnar, Chhattisgarh. The Plant is likely to be commissioned in 2014.
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