Steel cos line up Rs 5,14,000 cr investment in India
Leading steel players have lined up a whopping Rs 5,14,000 crore investment in the country, the Rajya Sabha was informed on Friday.
By PTI |
NEW DELHI: Leading steel players have lined up a whopping Rs 5,14,000 crore investment in the country, the Rajya Sabha was informed on Friday.
"As per the latest information, 193 investors have signed memoranda of understanding with state governments to set up steel projects at a proposed cost of Rs 5,14,000 crore," Minister of State for Steel Jitin Prasada said in a written reply to Rajya Sabha
Among the major steel producers that plan to put up new manufacturing units include SAIL, Tata Steel, ArcelorMittal, Posco, RINL, JSW, Essar, JSPL and Ispat Industries.
While country's largest steel producer SAIL plans to ramp up its production to 60 mn tonnes by 2020, Tata
Steel intends to increase the output to 33.5 mn tonnes.
JSW Steel and Ispat Industries too plan to increase their production capacities to 31 mn tonnes and 17 mn tonnes respectively.
World's largest steel producer ArcelorMittal has lined up two greenfield projects of 12 mn tonnes each in Orissa and Jharkhand with a cumulative investment of about Rs 80,000 crore.
South Korean steel behemoth Posco too plans to set up a Rs 51,000 crore steel plant of 12 mn tonnes capacity in Orissa.
Prasada said the government has received two proposals for ultra mega steel plants of 10 mn tonnes capacity in the country on the lines of ultra mega power projects.
"As per the latest information, 193 investors have signed memoranda of understanding with state governments to set up steel projects at a proposed cost of Rs 5,14,000 crore," Minister of State for Steel Jitin Prasada said in a written reply to Rajya Sabha
Among the major steel producers that plan to put up new manufacturing units include SAIL, Tata Steel, ArcelorMittal, Posco, RINL, JSW, Essar, JSPL and Ispat Industries.
While country's largest steel producer SAIL plans to ramp up its production to 60 mn tonnes by 2020, Tata
Steel intends to increase the output to 33.5 mn tonnes.
JSW Steel and Ispat Industries too plan to increase their production capacities to 31 mn tonnes and 17 mn tonnes respectively.
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Other than brownfield expansions by domestic steel producers, India has in its offing a number of greenfield projects, including those from global steel producers like ArcelorMittal and Posco. World's largest steel producer ArcelorMittal has lined up two greenfield projects of 12 mn tonnes each in Orissa and Jharkhand with a cumulative investment of about Rs 80,000 crore.
South Korean steel behemoth Posco too plans to set up a Rs 51,000 crore steel plant of 12 mn tonnes capacity in Orissa.
Prasada said the government has received two proposals for ultra mega steel plants of 10 mn tonnes capacity in the country on the lines of ultra mega power projects.
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The minister said government has constituted an inter-ministerial group to monitor issues concerning major steel investments in the country. Download
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