Centre assures to meet steel demand in the country

New Delhi, Dec 10 (ANI): Union Minister of State for Steel A Sai Pratap on Thursday said that steel demand in the country is being met both through domestic production and imports.

"The availability of steel in the domestic market is able to match the demand which is being met from domestic steel production as well as through imports," he said.

Pratap informed members of the Lok Sabha that steel consumption in the country is growing at a rate faster than domestic production.

"During the April-November period of the current year, as per the provisional figures released by the Joint Parliamentary Committee (JPC) the domestic production has grown by 3 percent whereas steel consumption has shown a growth of 8 percent," he said.

"Most of the steel consumption growth in India is taking place on account of housing, infrastructure automobile and consumer goods sectors," Pratap added.

He also said as the demand for steel in the country is likely to grow in the future, the Centre is facilitating setting up of new steel production capacities in the country.

"The public sector units under the Steel Ministry, Steel Authority of India Limited (SAIL) and Rashtriya Ispat Nigam Limited (RINL) have already undertaken major capacity expansion plans," Pratap said.

"The SAIL has planned to increase its present capacity from 13.82 million tonnes per annum (mtpa) of crude steel to 23.46 mtpa by the year 2012-13. Similarly, RINL is also undertaking its liquid steel capacity from 3.0 mtpa to 6.3 mtpa by the year 2011-12," he said. (ANI)