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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 average, Verma said when asked about global sluggish trend in steel price.
The company expects to operationalise the country's largest blast furnance at Rourkela in the next few days.
Verma also expects steel prices to improve in the coming months as he feels the prices have bottomed out and there is no room for further slide.
EBITA margin of the company, which was 9.3 per cent in Jan-Mar 2013, may improve in the Apr-Jun quarter, he said. He said Q4 of 2012-13 had a one time hit of Rs 523 crore owing to acturial revaluation which pulled down the profits.
SAIL is in the process of expanding its capacity to 19 million tonne by the end of 2013-14 from 14 million tonne. In the next 18 months the capacity will be further agumented to 24 million tonne, he said. The steel major had invested Rs 45,000 crore out of 62,000 crore for the expansion.