Inter-ministerial group meet on steel postponed
The meeting had to be postponed as the Orissa govt would not be able to participate due to Durga Puja celebrations.
By PTI |
NEW DELHI: The meeting of the Inter Ministerial Group (IMG), set up to facilitate investments in the booming steel sector, slated tomorrow has been postponed again to October 30.
IMG was formed to address various issues creating bottlenecks impeding the estimated investment of Rs 2, 76,880 crore in the sector over the next five years.
The meeting had to be postponed as the Orissa government has said it would not be able to participate due to Durga Puja celebrations.
Earlier, the meeting scheduled for October 8 had to be postponed by 10 days as top officials of the Steel Ministry and SAIL Chairman Sushil Kumar Roongta was in Europe attending the International Iron and Steel Institute meeting.
"We envisage an invstment of Rs 276,880 crore in the steel sector by 2011-12. The IMG, which has been constituted to delve into various issues impeding these investments, will deliberate on them when it meets on October 30," a top Steel Ministry official told the media.
The key issues to be discussed are ensuring adequate iron ore resources to the steel utilities, including foreign steel giants like ArcelorMittal and POSCO.
"After a detailed scrutiny of the current steel scenario, we found that steel production by 2012 is likely to be at 12.06 million tonnes (MT) per annum. This will necessitate 198 MT of iron ore by the same period and 48 MT by 2019-20" the official pointed out.
IMG was formed to address various issues creating bottlenecks impeding the estimated investment of Rs 2, 76,880 crore in the sector over the next five years.
The meeting had to be postponed as the Orissa government has said it would not be able to participate due to Durga Puja celebrations.
Earlier, the meeting scheduled for October 8 had to be postponed by 10 days as top officials of the Steel Ministry and SAIL Chairman Sushil Kumar Roongta was in Europe attending the International Iron and Steel Institute meeting.
"We envisage an invstment of Rs 276,880 crore in the steel sector by 2011-12. The IMG, which has been constituted to delve into various issues impeding these investments, will deliberate on them when it meets on October 30," a top Steel Ministry official told the media.
The key issues to be discussed are ensuring adequate iron ore resources to the steel utilities, including foreign steel giants like ArcelorMittal and POSCO.
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"After a detailed scrutiny of the current steel scenario, we found that steel production by 2012 is likely to be at 12.06 million tonnes (MT) per annum. This will necessitate 198 MT of iron ore by the same period and 48 MT by 2019-20" the official pointed out.
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