'India's Steel Production Far Below Capacity'

Published: 13th November 2015 05:51 AM  |   Last Updated: 13th November 2015 05:51 AM   |  A+A-

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.

Stay up to date on all the latest Tamil Nadu news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp