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Steel Producers
State-owned SAIL has plans to more than double the capacity of its Rourkela Steel Plant (RSP) to around 9 million tonne per annum at an investment of Rs 30,000 crore, a move which will boost supplies to sectors like defence, oil & gas, automobiles among others. Post expansion, which will come up over an area of 1,200 acre, RSP will alone contribute around 25 per cent to SAIL's overall 35 million tonne per annum (MTPA) production capacity target by 2030, Alok Verma, Director In-Charge, RSP told PTI in an interview. Located at Rourkela in Odisha, around 320 km from state capital Bhubaneswar, RSP holds the distinction of being the first public sector steel plant in India. It was set up in 1950s with German collaboration with an initial capacity of 1 MT. The plant became operational on February 3, 1959, when the then President of India Rajendra Prasad lit up the first blast furnace Parvati. At present, the total steelmaking capacity of Steel Authority of India Ltd (SAIL) stands at ...
The imposition of tariffs by the US on imports from Mexico, Canada and China will affect the Indian steel industry as the country will become the natural target for cheap Chinese steel at a time when local players are undergoing a major capacity enhancement phase, industry experts said. The Trump administration imposed 25 per cent tariffs on imports from Mexico and Canada on Tuesday. The US also doubled the tariff on all Chinese imports to 20 per cent. "USA under the new President has announced new tariffs on China, Mexico and Canada. China is a major steel exporter to the USA. The recently announced US tariffs on steel imports from China means that this export will become unviable and surplus steel will be seeking new markets," former President of Indian Stainless Steel Development Association (ISSDA) Karan Pahuja said. "India becomes the natural target for cheap Chinese surplus steel at a time when it is undergoing a major capacity enhancement phase. The Indian steel industry is .
Tata Steel's managing director TV Narendran on Tuesday pitched for safeguard duties on steel imports to protect the domestic steel industry from the indirect impact of US tariff hikes. He said many countries have initiated similar actions on steel imports, pointing out that the last three days have seen Vietnam imposing an anti-dumping duty on Chinese steel imports, and South Korea has also taken a similar decision. "We are asking for safeguard duties, which can be imposed immediately to help us," Narendran told reporters on the sidelines of the tech industry lobby grouping Nasscom's annual event NTLF here. After assuming office as the US President last month, Donald Trump ordered a 25 per cent import tax on all steel and aluminium entering the US and ended exemptions given to Canada and European steel earlier. Narendran said the Indian Steel Association has already made a submission to the government for safeguard duty, and added that it has pitched for a safeguard duty instead of
India stayed net importer of steel with the inbound shipments rising over 20 per cent to 8.29 million tonnes during the April-January period of this fiscal, official data showed on Friday. The country had imported 6.89 million tonnes (MT) of steel in the 10-month period of 2023-24 financial year. "India was a net importer of finished steel. Import of finished steel was at 8.292 MnT, with a year-on-year (y-o-y) growth of 20.3 per cent," according to the data. Against imports, exports have shrunk to 28.9 per cent to 3.994 MT during the said period compared to 5.619 MT in April-January period of preceding fiscal year. Steel and stainless steel industry players have been consistently raising the issue of import with the government, claiming the surge in inbound shipments from select group of countries including China has affected their competitiveness. Recently Steel Secretary Sandeep Poundrik said that India needs to add 100 million tonnes (MT) of steel making capacity by 2030 on ...
Union Minister H D Kumaraswamy on Monday unveiled a Rs 20,000-crore expansion plan for domestic steel giant SAIL's Bokaro Steel Plant (BSL), which will augment its capacity to 7.55 million tonnes per annum (MTPA). The Bokaro Steel Plant, established in 1965, with the first blast furnace operation in 1972, initially had a capacity of 1.7 MTPA. "Union Minister of Steel and Heavy Industries H D Kumaraswamy visited Bokaro Steel Plant where he unveiled an ambitious expansion plan to increase production capacity. With an investment of Rs 20,000 crore, the brownfield expansion aims to increase hot metal production from the current 5.25 MTPA to 7.55 MTPA, thereby strengthening India's momentum towards Aatmanirbhar Bharat in the steel sector," SAIL said in a statement. Apart from increasing production , the expansion plan will create 2,500 permanent jobs and 10,000 indirect jobs, it said. "The plant is now set for a massive overhaul with a new 4,500 cubic metre blast furnace, a thin slab ..
President Joe Biden blocked the USD 15 billion acquisition of US Steel by Japan's Nippon Steel on Friday something he had first vowed to do in March. His decision comes after the Committee on Foreign Investment in the United States, known as CFIUS, failed to reach consensus on the possible national security risks of the deal last month. The rise of US Steel, a storied American company, runs parallel to the arrival of America on the world stage. With roots dating to the late 19th century, US Steel has produced the materials used for everything from the nation's bridges and skyscrapers, to its tanks and battleships. Following is a brief history of the company. The origins of a manufacturing giant What eventually became the largest corporation in the world was created by J.P. Morgan and others who financed the merger of Andrew Carnegie's Carnegie Steel Co. with rival Federal Steel at the start of the 20th century. It instantly became the world's first USD 1 billion company. In 1907