The Union Minister of Steel, Shri Beni Prasad Verma praised the efforts of Indian Government for positioning India as the 4th largest Steel producing countries during his speech in the 24th National Steel Consumer’s Council of Ministry of Steel.
Shri Verma, in his speech during the 24th National Steel Consumer’s Council said that India now holds the 2nd best position in growth rate compared to the other Steel producing companies worldwide. He said that the development was possible only because of the future vision targeted by the great leaders of India. India currently produces about 81.2 MnT Steel annually, which is targeted to become 300 MnT by 2025. Indian Steel industry is however trying its best to achieve its target.
Indian exports had also rose by 13.7 percent to 0.6 MnT in Dec, 2013 and for the Apr-Dec period it went up by 9.5 percent to 4,136 MnT. Thus, helping India increase exports of Steel compared to its imports globally. In addition Ministry of Steel is the first under Indian Government to be awarded with the ISO 9001:2008 certificate.
The Steel Ministry is in plans to implant 10 new Steel factories in Uttar Pradesh. The locations for the plants are likely to be Gonda, Barabanki, Lakhimpur, Hardoi, Jhansi, Kaisergunj, Mirzapur and Ambedkar Nagar, Bahraich. The government will be investing about INR 1 billion in each plant and it will provide employment to about 2000 people.
Ministry also plans to set up a Forged Wheel Plant at Rae Bareli and two Power Plants of 500 Mega Watt each at Jagdishpur and Gonda, with an investment of INR 30 billion on each plant and by employing over 1000 people. Moreover, a Steel unit with an annual capacity of 13,000 MT will be set up at Jagdishpur along with a TMT Bar Mill having an annual capacity 1,50,000 MT. The ministry is also setting up stockyards at Gorakhpur and Gonda.
Shri Verma stated that the Government is taking various measures for further development of Steel industry. Steel commodities will be likely sold at a lower price in remote areas of the country to promote its sales.