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| Steel Ministry to focus on expansion, modernisation |
| Press Trust of India / Shimla Sep 21, 2009, 14:32 IST |
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The Steel Ministry will focuss on expanding production and modernising manufacturing units under a two-phase capacity building programme. After achieving success in curbing rising steel prices under its 100-day agenda, the ministry has planned massive enhancement of production capacity and modernisation of the existing steel manufacturing units as future agenda, Union Steel minister Virbhadra Singh said.
Singh said that the target is to increase production capacity from 56 million tonnes annually now to 124 MT per year in the first phase, which would come to end by 2011-12, he said.
The production will further multiply in the second phase, which would be of another two years, the minister added.
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.
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, he said.
On global financial crisis, he said India was not effected by the economic recession in steel. Production of steel has increased by three per cent and the gross domestic consumption of steel in India has risen by 3-5 per cent when the entire world is battling economic meltdown, Singh added.
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