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Target 300 million tonnes: Steel companies gear up for value creation

Industry majors saw in sick assets an opportunity to expand operations

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From among the first major dozen defaulters, Bhushan Steel was the first to emerge successfully from the IBC resolution process in May 2018

Kunal Bose Kolkata
This should be an enabler for the steel industry to arrive at a capacity of 300 million tonnes, in accordance with the national steel policy, by 2030-31: Rescuing from ruin several million tonnes of sick steel capacity, owing thousands of crores to secured financial creditors and others, and also the promise of restoring their health and creating expansion by new owners.

The Insolvency and Bankruptcy Code (IBC), 2016, a one-stop time-bound resolution of cases of insolvencies, has laid the ground for ambitious steel groups with financial and technological muscle to acquire ailing steel assets.
 
From Tata Steel to JSW Steel

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First Published: May 31 2020 | 9:10 PM IST

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