India to be 2nd largest producer of crude steel in world by 2015
Thursday, 31 May 2012 | 00:00
The government on Wednesday said that India would become the second largest producer of crude steel in the world by 2015.
Chairing the meeting of the Parliamentary consultative committee of steel ministry in New Delhi, Steel minister Beni Prasad Verma said that the Steel Industry in the country also contributes over two per cent to the GDP.
He said that Steel capacity in the country has gone up from 66 million tonne per annum in 2008-09 to 89 million tonne per annum in 2011-12.
Mr Verma also said that the per capita steel consumption has risen from 38 kilogram in 2005-06 to 55 kilogram in 2010-11.
He said that major steel companies like Steel Authority of India Limited (SAIL) and Rashtriya Ispant Nigam Limited (RINL) are in midst of massive expansion plan to increase production of steel.
He also informed that the expansion of Salem Steel Plant of SAIL and major packages of RINL expansion plan have been completed.
The Minister stressed on the importance of conserving iron ore resources in the country for long term use by the domestic steel industry.
The Minister informed that for promotion of steel sector, his ministry has taken many steps including a roadmap on research and development and Technology has been prepared with focus on beneficiation, pelletization and coal ash reduction.
Source: News on Air
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