COIMBATORE:The President of the Indian Institute of Metals and Director (Technical) of Steel Authority of India Limited (SAIL), SS Mohanty, said here on Thursday that despite the total steel production capacity of the country being 115 million tonnes per annum, we are able produce only 80 million tonnes every year. He attributed the low steel production to the slump in industries that are heavy users of steel, such as the construction industry.
He made these comments while taking part in an event marking National Metallurgists’ Day, which is the annual event of the Indian Institute of Metals.
He added that the Government is aiming to increase the country’s steel production capacity to 300 million tonnes per annum. “Measures such as 100% FDI in the steel industry have been taken to achieve this goal,” he said.
Mohanty asserted that the cost of production of steel in India is the lowest in the world, even lower than China. “Steel is the most recyclable product that we use in our daily lives. Steel is almost 100% recyclable,” he said.
The Ministry of Steel will hand over awards to eminent metallurgists, on November 14. Union Minister for Steel and Mines Shri Narendra Singh Tomar, Aruna Sundarrajan, Secretary, Ministry of Steel, will be attending the event
The Annual Technical Meeting (ATM) of the Indian Institute of Metals (IIM) will take place on November 15 and 16, he informed.