Monday, May 09,
Steel making capacity in India is expected to expand by 30 million tonnes in the next two years.* Of this, approximately 10 to 15 million tonnes of capacity is likely to be added during the current year itself.
“We expect some 30 MT of steel capacity to be commissioned in the next two years. Some of the planned mega integrated steel plants are also due to start production within the next five to seven years,” union steel secretary PK Misra said.
In 2010-11, India produced some 78 MT of steel from both primary and secondary producers. In FY 2010, the domestic steel sector saw robust growth, particularly in the fourth quarter (January-March 2011), with rural demand providing a much-needed boost to the country’s overall steel demand. “Finished steel production was up 10.6% in 2009-10 while production grew by 8.9%,” Misra added.
While exports totaled about 3.5 MT, net imports of steel went up to 6.8 MT during the year, which gives an indication of domestic demand condition.
In its short-term outlook for steel released in April, the World Steel Association (WSA) said, “India is expected to show strong growth in steel use in the coming years due to its strong domestic economy, massive infrastructure needs and expansion of industrial production.”
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