NEWS

Steel production grows 9%, exports up 60%

Friday, Dec 30, 2016

The overall steel production grew by 8.8% between April-November, 2016 compared to the same period last year. Steel imports have declined by 38.28%  between April-November, 2016 while exports have increased by 59.96% during the same period, according to government figures.

The per capita consumption of total finished steel in the country has risen from 58 kg in 2011-12 to 63 kg in 2015-16, while the crude steel capacity in the country stood at 121.97 million ones in 2015-16 (source: JPC) and the production of crude steel stood at 89.79 mt during the same year.

The government has extended Minimum Import Price (MIP) on 19 steel products till February 4, 2017 in order to provide a level playing field to the domestic steel producers.

A provisional anti-dumping duty has been notified on import of flat products (hot rolled and cold rolled) and on wire rods from China, Japan, Korea, Russia, Brazil, Indonesia and Ukraine.

Among other steps taken to give a boost to the steel industry, the Steel Authority of India Ltd has undertaken modernisation and expansion of its integrated steel plants at Bhilai, Bokaro, Rourkela, Durgapur and Burnpur.

Working towards its aim of growing capacity to 300 million tonnes of crude steel by 2025-26, the Ministry of Steel has evolved a concept of developing Ultra Mega Steel Plants and SAIL is participating for setting up of an Ultra Mega Steel Plant of capacity (3+3) or (4+2) MTPA (milliont tonnes per annum) in Bastar, Chhattisgarh.

Also, Rowghat – Jagdalpur Rail Corridor in Chhattisgarh is being developed with the aim of bringing about greater socio-economic development of the backward areas of Bastar region in the state. An MOU was signed amongst SAIL, NMDC, IRCON and GoCG in May 2015 for development of a rail corridor from Rowghat to Jagdalpur.

SAIL RITES Bengal Wagon Industry Pvt. Ltd. (SRBWIPL), a JV of SAIL and RITES, has been set up for the manufacture and supply of 1200 wagons and rehabilitation of 300 wagons per annum to railways has started commercial operations at Kulti, West Bengal. 

 

Source:indiainfoline.com

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