Union Minister of Steel Beni Prasad Verma informed the Lok Sabha that domestic production of crude steel in the first quarter of the current year stood at 19.61 million tonne. He further said that steel is a deregulated sector, the role of the government is that of a facilitator providing a conducive policy environment
Category: Materials
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Severstal not keen on NMDC’s 3 mn t steel project
CS Verma, Chairman of NMDC informed media persons that the Russian company Severstal did not show much interest on the 3 million-tonne-a-year steel plant project and hence the former may implement it as an NMDC-only project. In 2010, both the firms signed initial agreements for the project and it is not known why Severstal is not interested in the project
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Land issues of Posco project may be resolved soon
Commerce and Industry Minister Anand Sharma expressed confidence that the issues involved in acquiring some forest land for the $12 billion steel project by South Korean steel major Posco in Odisha may be solved soon. Speaking to reporters, the minister said there have been some difficulties in acquiring certain section of land that was already either encroached or not free from encu
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Capacity utilisation in stainless steel sector declines
NC Mathur, President of the Indian Stainless Steel Development Association (ISSDA) informed that capacity utilisation by domestic stainless steelmakers declined because of poor demand, cheap imports and high raw material price. According to Mathur, domestic players reduced operating capacity by 20 percentage points so far this year. Thus, these players are operating at 45-50 per cen
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JSW Steel chief expects better capacity utilisation
Sajjan Jindal, Chairman and Managing Director of JSW Steel is hopeful that the firm may improve its productivity and capacity utilisation as iron ore mining operation resumes gradually in Karnataka. Jindal said this at the company's Annual General Meeting. The company expects that with the sale of sub-grade ore, the iron ore quality may improve in the coming months and this would enable the firm ramp up capacity utilis
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India under US scanner for dumping steel pipes
India is under the scanner of the US Department of Commerce for alleged dumping of cheap steel pipes in the country thereby affecting the business of local manufacturers. The Commerce Department launched a probe against South Korea, India, Vietnam, the Philippines, Saudi Arabia, Taiwan, Thailand, Turkey, and Ukraine on alle
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SAIL chief moots special funding institution for steel sector
There is an urgent need to set up dedicated financing institutions for the steel sector in order to attain the target of 300 mn t steel annually by 2020-25, CS Verma, Chairman and Managing Director of SAIL said. It may be recalled that India set a target to achieve annual steel production of 300 million tonne (mn t) by 2020
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Steel sector holds bright prospect: SAIL chief
Speaking to a leading newspaper, CS Verma, Chairman of Steel Authority of India (SAIL) said the Indian steel sector holds bright prospect going forward. He hinted that demand for steel may increase in the country as the government has given thrust to investment in key infrastructure sector during the 12th five
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Govt land for steel project
For implementing its proposed 6-million tonne-per-annum (mtpa) steel plant, the Karnataka government granted over 2,000 acre land to ArcelorMittal at Kuditini, Bellary district.
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JSW Steel eyes assets of Stemcors
Jindal Steel and Power and JSW Steel are eyeing stake in the British steel trader Stemcor's Indian iron ore assets. JSW is reportedly holding discussion with Stemcor on this matter. Stemcor appointed Goldman Sachs to find a buyer for its Indian assets which include a iron ore mine and iron processing facilities in the state of Odisha, valued by a