Page 48 - Steel Tech India eMagazine Volume April 2022

VOL. 16 • NO. 3 • April 2022

News Watch

Indian Steel plants

India’s Steel Ministry expects State-run Steel Mills imported without any duty as Australia is a major
to Increase Capacity by at least 80% by 2030 supplier of this crucial fuel. this could reduce the cost
of steel production,” Dhar added.
India’s Ministry of Steel has directed the government-
run mills to increase capacity by at least 80% to 45 Mt a India is dependent on imports for its coking coal
year by 2030 from the current 25 Mt a year. requirements. the nation imported 43.35 Mt of coking
coal in 2021, of which 31.4 Mt came from Australia.
the directive came after a capital expenditure review
meeting by the state-owned Steel Authority of India ltd. Steel Ministry of India to take steps to make India
(SAIL), RashtriyaIspat Nigam Ltd. (RINL), and NMDC future ready and Net Exporter, says Rasika Chaube
Ltd.NMDC planned to start commercial production from - Additional Steel Secretary
a new plant with an annual output of 3 Mt in the next the Additional Secretary Ms Rasikachaubedirected
few months.
the industry players to take steps to make India a net
Based on current assessments, the government is exporting country. She also said Ministry of Steel is
confident of reaching a total domestic steel production taking several measures to increase the usage of steel
capacity of 300 Mt per year by 2030-31. and stainless steel in the country.
India expects Coking Coal boost after India- According, the Vision document 2047, Stainless Steel
Australia agreement demand is expected to witness a volume growth of
Indian steelmakers expect smooth coking supply from 19.5-21% to reach 3.7 -3.9 Mt fiscal 2022 supported by
Australia on the back of the recently signed economic a low base, a stable macroeconomic environment and
cooperation and trade Agreement (ectA) between normalised government spending.
India and Australia. Under the agreement, the effective Industrialist Abhyuday Jindal said the Ministry has
tariff of 2.5% imposed on most types of coal imports, taken various steps to take the steel industry like the
including coking coal, will be eliminated.the ectA will launch of National Steel policy 2017, the focus on scrap
bring down the import cost of coking coal for Indian recycling, quality control orders, etc. he further added
steelmakers, ultimately reducing their cost of steel the industry looks forward for the continuous support of
production. the steel ministry to achieving the stainless-steel vision

“the signing of the Ind-Aus ectA will help steel 2047. Indian Stainless Steel industry has adequate
companies’ source coal and other raw materials duty- production capacity.
free from Australia and will boost trade between both Steel Authority of India Limited (SAIL),
countries in the long run,” AMNS India chief marketing
Officer Ranjan Dhar told. Steel Authority of India limited (SAIl), is celebrating
the company’s fifty years of incorporation this year in
“More importantly, the key raw material in steel 2022. SAIl was incorporated on 24th January, 1973.
production, coking coal, which had seen a significant
price rise over the past few months, can now be Steel Authority of India limited declares financial

46 Steel tech