Union Steel Minister Beni Prasad Verma informed that capacity of steel production in the country has risen from 66 million tonne (mn t) in 2009 to about 90 mn t in 2012, which is a 36 per cent growth. He said this during a meeting of the Parliamentary Consultative Committee attached to his ministry. Steel output in the country expanded 4.3 per cent in 2012, he informed members of the committee
Tag: Modernisation
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SAIL chief optimistic on steel demand in India
CS Verma, Chairman of state-run steel maker SAIL said the consumption demand for steel in India remains better than that in the western world and so, no private or public sector steel company has decided to either curb or abandon expansion plan. India's steel capacity remains just 10 per cent of China's with only of 80-82 million tonne. Per capita consumption in India is just per 55 kg vs 220 kg global aver
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SAIL conducts study for Rs 15 bn project
CS Verma, Chairman of SAIL informed that the company is conducting environment impact study for its Rs 1,500 crore iron ore nugget plant in Durgapur, which it plans to implement in a joint venture with Japanese steelmaker Kobe Steel. Verma said this will be the second such project in the world after USA. The JV agreement has been finalised, he told reporters. He said it would take five to six
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SAIL chief inaugurates coke oven battery
CS Verma, Chairman of the state-run SAIL recently inaugurated a coke oven battery at the Rourkela Steel Plant, which is being modernised at an investment of Rs 12,000 crore. The battery is top charged having compound twin flue, under jet, regenerative heating with partial recirculation of waste gases. SAIL invested around Rs 1,40
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SAIL may complete most of expansion project by end FY14
According to a news agency report, Steel Authority of India (SAIL) may complete major portion of its ongoing expansion project by March 2014. While presently the company has a production capacity of 13.82 mn tpa of hot metal, it aims to expand it to 19.5 mn tpa by the end of 2013-14. Since 2006-07, the company has been implementing its Rs 61,870 crore mega capacity expa
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SAIL invests Rs 424 cr in April 2013
State-run Steel Authority of India (SAIL) invested Rs 424 crore on its capacity expansion project during April 2013, the company's internal note shows. It may be noted that the country's largest steel maker has been expanding capacity at all its major steel plants in Rourkela, Bokaro, Durgapur, Bhilai and IISCO. In the last seven years, the firm invested Rs 44,536 crore, out of the proposed 61,870 crore to raise the annu
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VPT’s Rs 8.4 bn project faces roadblock
The union cabinet may have cleared the Rs 845 crore capacity enhancement and modernisation project at the existing iron ore facilities in the Visakhapatnam Port Trust. But labour unions are opposing the proposed project arguing that it may harm the interest of the port. Recently, United Port and Dock Employees Union staged a dharna in front of administrative building of the port against the approval of the Cabinet Committee of Economic Affairs
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Minister not satisfied with SAIL’s performance
Union steel Minister Beni Prasad Verma was not satisfied with the performance of Steel Authority of India (SAIL) on the whole and advised the company to take corrective measures immediately. Verma said this after reviewing the March 2013 quarter and the financial year 2012-13 performance of the firm. He expressed his concern on the progress of modernisation and expansion and directed the PSU to bring
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SAIL takes steps to complete modernisation project early
Steel Authority of India (SAIL) is taking steps to ensure that the modernisation work at its IISCO Steel Plant is completed at the earliest. As part of this, CS Verma, Chairman of the firm assigned
separate jobs to different teams formed for this purpose. The company formed different teams and broke all critic
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Coking coal import of SAIL set to rise
The current expansion projects, once completed, would result in a 30 per cent growth in the import of coking coal by Steel Authority of India (SAIL) to feed its increased production capacity. In the past two fiscal years, the firm's coking coal shipments remained largely unchanged at around 10 million tonne. The steelmaker imports three-quarters of its coking coal