Sponge Iron Industry
The Minister of Steel, Shri Beni Prasad Verma has said that the Public Sector Undertakings under the administrative control of the Ministry of Steel include the Steel Authority of India Ltd. (SAIL), Rashtriya Ispat Nigam Ltd. (RINL), NMDC Ltd., MOIL Ltd., MSTC Ltd., Hindustan Steelworks Construction Ltd., MECON Ltd., and KIOCL Ltd. SAIL Refractory Company Ltd., Bird Group of Companies, J&K Mineral Development Corporation Ltd. and Ferro Scrap Nigam Ltd. are subsidiaries of SAIL, RINL, NMDC Ltd. and MSTC Ltd. respectively.
In a written reply in the Lok Sabha today he said, India is the world’s largest Sponge iron producer with annual production capacity of approximately 35 million tones. The Indian Sponge Iron Industry contributes to more than 30% of total steel production of the country.
The Minister said, Steel is a deregulated sector. Therefore import of scrap iron is made by the stakeholders as per their own requirements depending upon the market dynamics. Government has no role to play in it.