It is reported that the Indian steel ministry will focus on expanding production and modernizing manufacturing units under a two phase capacity building program.
Mr Virbhadra Singh union steel minister told PTI that after achieving success in curbing rising steel prices under its 100 day agenda, the ministry has planned massive enhancement of production capacity and modernization of the existing steel manufacturing units as future agenda.
Mr Singh said that the target is to increase production capacity from 56 million tonnes annually now to 124 million tonne year in the first phase, which would come to end by 2011-12.
The minister added that the production will further multiply in the second phase, which would be of another two years.
In reply to a question if many steel projects were hampered due to non cooperation from the state governments by not making available land and fulfilling other requirements, Singh answered in negative.
He said that states have their own interest like getting royalty from new steel manufacturing units but on the whole there has been no complaint of non cooperation from the state government.
(Sourced from http://www.steelguru.com/news/index/2009/09/23/MTEzMDM1/Indian_steel_ministry_upbeat_on_capacity_addition.html)
Tuesday, September 22, 2009
Indian steel ministry upbeat on capacity addition
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