India is world's fifth largest steel producer

India claimed the fifth spot in terms of largest producer of crude steel during January-June this year, according to World Steel Association (WSA).

The information was shared by A Sai Prathap, Minister of State in the Ministry of Steel.
China claimed the first spot with 323 million ton (MT) production during the same period, followed by Japan (54.6 MT), USA (41 MT) and Russia (32.5 MT). India with its production of 32.5 MT claimed the fifth spot.
As per the latest estimates, Prathap said, the crude steel capacity in the country is likely to reach 120 MT by 2012 from 72.9 MT in the 2009-10. “However, a relative position in the world scenario would depend upon the prevailing conditions in other steel producing and consuming countries, which is not possible to forecast,” he said.
In today’s de-regulated, open market economy, he said, the role of Government is that of a facilitator and in that capacity, it promotes/encourages growth of steel industry through suitable policy measures. “Both the public sector Steel companies namely Steel Authority of India Ltd. (SAIL) and Rashtriya Ispat Nigam Ltd (RINL) are in the process of expanding their crude steel capacities,” he said. SAIL envisages increasing its crude steel production from existing 12.84 MT to 21.40 MT per annum in Phase-I to be completed by 2012-13 at an approximate estimated cost of Rs70,000 crore including cost of mine development.
The Minister said the RINL is expanding its existing capacity of 2.9 MT of crude steel production to 6.3 MT per annum to be completed by December, 2011, at an estimated cost of Rs12,228 crore. Another public sector company, namely NMDC Ltd., is to set up a 3 MT per annum integrated steel plant at Nagarnar, Chhattisgarh at an estimated investment of Rs15,525 crore. The Plant is likely to be commissioned in 2014, the Minister informed.