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Letter to BS: Insolvency helps, but steel needs more to improve capacity

What we need now is a few greenfield steel projects to significantly augment the capacity, thereby giving a much-needed fillip to economic growth

Business Standard 

Letter to BS: Insolvency helps, but steel needs more to improve capacity

This refers to “How is reshaping steel” (January 22). It is true that ownership of a few steel companies has changed, thanks to proceedings under the and Bankruptcy Code (IBC), but the annual steel output of our country needs to go up if India has to develop faster. Though the IBC is helping major Indian steel producers consolidate their capacity by taking over the stressed assets, the total steel capacity, nationwide, has not changed. What we need now is a few greenfield steel projects to significantly augment the capacity, thereby giving a much-needed fillip to economic growth.

Sanjeev Kumar Singh Jabalpur

can be mailed, faxed or e-mailed to:

The Editor, Business Standard

Nehru House, 4 Bahadur Shah Zafar Marg

New Delhi 110 002

Fax: (011) 23720201 · E-mail: letters@bsmail.in

All must have a postal address and telephone number

First Published: Wed, January 23 2019. 21:21 IST
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