Steel production to see 16% rise to 124.06 Mt by 2011-12

New Delhi, Oct 31 (UNI) The steel production in the country is estimated to go up to 124.06 million tons (MT) in 2011-12, up 16 per cent over the present 56.84 MT.

The assessment was made at the first meeting of Inter Ministerial Group (IMG) constituted to monitor and coordinate issues concerning major steel investments in the country under the Chairmanship of Steel Secretary, said a statement.

The Group was unanimous in its view that in order to convert this potential into a reality, a huge task lies ahead in creating a conducive investment atmosphere combined with right policy shift and building up of associated infrastructure particularly in railways, roads and port sectors.

The issues concerning all major steel projects being set up by SAIL, RINL, Tata Steel, Essar, JSPL, JSW, POSCO, Arcellor Mittal, Ispat, Bhushan Steel, Bhushan Power&Steel, Monnet Steel, Uttam Galva etc were discussed by the IMG and their status appraised.

The Group also decided that a time frame regarding allocation of raw material resources as well as land is vital.

A fixed time line, with regard to each major project will be formulated and monitored by the IMG in its subsequent meetings.

It was discussed that a more optimum utilisation of the reserves with emphasis on higher utilisation of fines and up-gradation of mining technology need to be emphasised.

On the issue of resettlement and rehabilitation, IMG decided in favour of further augmentation and strengthening the existing land transfer and rehabilitation machinery with more man manpower and better logistics.

The IMG noted that in view of the huge requirement of Coal, which is another important raw material for the balanced growth of steel sector, more coal blocks be explored and allocated to the major steel investments on captive basis.

All the major steel investment and infrastructure projects planned for implementation by 2012, are expected to be completed in time, as per the position given by concerned State Governments and Central Ministries, the statement added.

UNI