Refractories sector grows 10% in 2013-14

The refractory industry in the country has grown by 10.5 per cent in 2013-14 despite odds, Indian Refractory Manufacturers Association (IRMA) said today.
"The domestic refractory sales turnover in 2013-14 was around Rs 5,696 crore, up by 10.5 per cent over the previous year," IRMA chairman Arvind Jain said here at the AGM of the association.
He said the sector was facing difficulty in receiving their dues from the steel sector, which accounts for 75 per cent sales of the industry.
"Average delay in receiving our dues is not less than six months and at times there is non-payment also. For any wrong in the blast furnace, the first blame comes to us irrespective of (the reasons) for fault," Jain said.

He was, however, optimistic about the future of the sector with the government projection to increase the steel making capacity to 300 million tonne by 2025.