Mumbai: Despite the sluggish scenario prevailing in the infra-construction segment, the country has scaled to 4th position from the 8th position (2003) in the steel sector. As per the information disclosed by the Ministry of Steel, the country is expected to reach 2nd position in the world by 2015.
“301 MoUs were signed with various states for planned capacity of around 486.66 million tonnes. The sector contributes nearly 2% of the GDP, wherein the per capita consumption today stands at 59 kg (2011-12) against 38 kg (2005-06),” reports the official statement disclosed by the Ministry.
Further, the capacity for crude steel production expanded from 51.17 million tonnes per annum (mtpa) in 2005-06 to 89.29mtpa in 2011-12. Crude steel production grew at 8% annually (CAGR) from 46.46 million tonnes in 2005-06 to 73.79 million tonnes in 2011-12. Production for sale of finished steel stood at 73.42 million tonnes during 2011-12 as against 46.57 million tonnes in 2005-06, an average annual (CAGR) growth of 7.9%. Export of finished steel during 2011-12 stood at 4.04 million tonnes while Import during 2011-12 stood at 6.83 million tonnes.
EPC News Bureau
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