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India aims to double its steel production by 2012

Business

India aims to double its steel production capacity from present 60 million tonnes to 120 million tonnes by 2012. The Steel Ministry said that the government is planning to expand steel production through brown field and green field projects.
  
“The POSCO Project in Orissa will produce 12 million tonnes, and two projects of Arcelor Mittal in Orissa and Jharkhand with the capacity of 12 million tonnes each,” said, Virbhadra Singh, Union Steel Minister.
The Minister said that more concerted efforts are required to see that steel capacity goes beyond 200 million tonnes by 2020. Addressing the 23rd meeting of the National Steel Consumers’ Council in New Delhi, he said, “The massive technology change in industrial production that has taken place in the past few decades has almost completely changed the way steel industry does business today.”
Emphasising on the need for new technology to produce better quality steel on low cost, he said that the Government is trying to acquire new technology from South Korea and Japan.
Virbhadra Singh was of the view that the displaced persons should be given proper compensation with proper rehabilitation. “At least one of the people of displaced family should be given job through skill development,” he said, adding that the industry should do this responsibility not on the behalf of locale’s cost but on their own cost.
The Minister said that steel producers and consumers form two vital, interdependent and inseparable segments of the steel industry, despite the well known and routine business and strategic conflicts between them. “Steel being an industrial intermediate holding strategic position in the development of any economy and in the line of value chain, it has been the endeavour of the Ministry of Steel for a long time to see that the two sides of the steel business follow a harmonious and synergetic path to achieve synchronized growth of this vital industry in the larger interest of the country,” he added.
The Minister also unveiled two books of SAIL containing information about warehouse and Dealer Network.

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