PTI : Steel output will double in 2 years

Industry News 2010-05-24 13:56:21
New Delhi: India will double its steel production in the next two years even if the big-ticket Posco and ArcelorMittal projects do not take off, Steel Minister Virbhadra Singh said today.
 
At present, the steel production is 59.9 million tones. By 2011-12, it should increase to at least 120 million tones,” Singh told PTI in an interview.
 
Asked whether the ambitious target can be met even if the Rs 1.5 lakh-crore Posco and ArcelorMittal projects do not materialize by then, he said “yes, we have not taken those into account ”.
 
He said that besides several major producers like Jindal steel, JSW, Esar Steel, Bhusan Steel and Tata Steel, many secondary steel producers were also implementing capacity-expansion projects.
 
We are emerging as a steel - making power. We have ambitious projects to enhance the production,” he said.
 
The minister said that state owned SAIL and RINL were also enhancing their plants at Bokaro, Bhilai, Durgapur and Vishakapatnam at an investments of Rs 80,000 crore.
 
India’s  largest steel firm, SAIL is slated to raise its production capacity from 14 million tones to 23 million tones. “We have launched a very big program of expansion and modernization  of SAIL and RINL plants,” Singh said, adding that all the major orders for equipment have already been placed.
 
He said that the government expected most of the expansion work to be completed by 2011-12. “it will increase the capacity in the public sector, which will be almost double(of present),” he said.
 
Singh said that the government is concerned about the ArcelorMittal and Posco projects, which have been stuck for over five years now. “The Prime Minister (Manmohan Sing)has shown his personal Keenness, “he said, adding that his ministry has taken the issue with the state governments concerned. 
 
 
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