Last Updated : 10 October 2012 at 16:55 IST
India Govt preparing new Steel policy, capacity to rise to 200 mt in 2020
India aims to raise steel production capacity to 200 mn tons by 2020 and the most important requirement for it is raw material security. Steel industry is dependent on imported coking coal for energy requirements while iron ore fines production has weakened on ban on mining
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NEW DELHI (Commodity Online): India Government is preparing a new Steel policy that will provide the necessary vision and framework for increasing steel production and consumption in India, according to Beni Prasad Verma, Union Minister of Steel.
Addressing the 46th Annual Conference of World Steel Association (worldsteel) here on Wednesday, the minister said that steel capacity in India has increased from 66 million tonnes in 2009 to about 90 million tonnes in 2012. The capacity is all set to increase further as Steel plants in both public and private sectors have taken up expansion and modernization programs. As per projection, the capacity in the country would grow to around 200 million tonnes by 2020.
India is presently the fourth largest producer of steel in the world and would soon become the second largest, the minister added.
For achieving growth in the Indian steel industry it is important to have raw material security. This would include optimum resource utilization and securing raw material sources abroad. Global strategic partnerships will play an important role in achieving this.
“India has a sizeable quantity of iron ore fines, which at present are not being fully utilised for want of suitable beneficiation and pelletisation technologies. We plan to use modern techniques of beneficiation and pelletisation for adding value to our iron ore and also for optimum utilisation of our mineral resources.“
At present, the Indian steel industry is dependent largely on imported coking coal. For increasing the country’s steel production, it is therefore important that we maximise the usage of indigenous coking coal by adopting latest coal washing technologies. Besides, it is also important to adopt alternate iron making technologies which can use directly non-coking coal and low grade iron ore fines. The recent JV agreement with KOBE Steel, Japan for the ITmk3 technology is a step in the right direction.
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