Keeping in view the growth rate of steel sector, India would likely eclipse US, the third largest steel producer of the world, in next couple of years, Executive Director of Association for Iron and Steel Technology (AIST) Ronald E Ashburn said today.
India will eclipse US in two/three years in steel producing after China and Japan, he told a press conference here on the eve of launch of the inaugural AIST International Steel Academy (ISA).
Currently, India was producing 70 million tonnes steel per annum against its install capacity of 80 million tones, he said.
The country with abundance of iron-ore and coal could secure the second spot by 2015-16 if it could achieve targeted 145-150 million tones capacity by the time, Ashburn said.
The sixth largest steel producer of the world till two/three years ago, India had by-passed South Korea and Russia to become the fourth largest steel makers of the world, Ashburn said while emphasizing the need for creating benchmark with present facilities, proper equipment of technology, education of market and investment in R&D.
He, however, admitted infrastructural constraints such as land acquisition, power and water supply despite abundance of raw-material.
While the coal contains high ash, the iron-ore available in the country was of low grade, he said stating that India was the fourth largest iron-ore mining country after China, Japan and Australia.
Ashburn said in recent years, AIST, an international non-profit technical association of 14,000 profession and student members from 70 countries representing iron and steel producers, has implemented initiatives such as ISA to export the AIST brand of networking and education to global steel markets.
