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Steel: Why steel is a hot commodity in India
MUMBAI: India's steel industry is surging ahead, entering into global deals and taking the country's economy to new heights. The Indian government plans to invest over US$ 350 billion in steel industries related to infrastructure and construction.
The Indian government estimates that steel production would grow at a CAGR of 16 per cent to touch 124.06 MT by 2011-12. India's steel production capacity is estimated to be 200 MT by 2020.
Following are some of the major steel sector plans currently in underway in India and abroad:
Arcelor Mittal, the world's largest steelmaker, plans to set up two greenfield steel projects in India each with a capacity of 12 million ton per annum (MTPA).
Acerinox SA, the world's 2nd biggest stainless steelmaker, is joining hands with Japan's Nisshin Steel to build a steel plant in India.
Tata Steel, the world's fifth largest steel maker, plans to double its capacity by 2015, by adding another 35 MT capacity.
India's largest steel manufacturer SAIL is planning to increase its annual production of 12 MTPA to 24.98 MTPA by 2011-12.
Sinosteel Corp, China's 2nd biggest iron ore trader, plans to invest US$ 4 billion to build a 5 MT greenfield steel plant
Kalyani Steels will set up an integrated steel and power project in West Bengal, at a cost of US$ 1.63 billion.
US$ 365.7 million investment coming in steel is coming up in Karnataka.
Mesco Steel plans to invest around US$ 2.8 billion in two steel plants – a brownfield expansion and the other a greenfield project – in Orissa.
Vedanta Resources plans to enter the Indian steel sector with a 5 MT plant at an investment of about US$ 6.02 billion in Orissa.
State-owned Steel Authority of India Ltd (SAIL) will invest US$ 5.006 billion in West Bengal. This is almost two-fifths of the US$ 13.27 billion spread planned by SAIL.
Tata Steel has acquired the Anglo-Dutch steelmaker Corus to become the world's 5th largest steelmaker, adding 19 MT of steel-making capacity.
Essar Global has acquired Canada's Algoma Steel for US$ 1.63 billion and US-based Minnesota Steel.
Naveen Jindal-promoted Jindal Steel & Power Ltd (JSPL) has bagged the US$ 2.1 billion contract for developing one of the world's largest iron ore deposits, El Mutun. The project includes a 2 MT steel plant in Bolivia.
JSW Steel has acquired Jindal United Steel Corporation, Saw Pipes USA and Jindal Enterprises LLC at Baytown, Texas, for US$ 940 million.
India's Steel Strips Wheels Ltd. has received an order from French car maker Renault SA worth US$ 27.56 million to supply around 1 million steel wheel rims for over 5 years.
MUMBAI: India's steel industry is surging ahead, entering into global deals and taking the country's economy to new heights. The Indian government plans to invest over US$ 350 billion in steel industries related to infrastructure and construction.
The Indian government estimates that steel production would grow at a CAGR of 16 per cent to touch 124.06 MT by 2011-12. India's steel production capacity is estimated to be 200 MT by 2020.
Following are some of the major steel sector plans currently in underway in India and abroad:
Arcelor Mittal, the world's largest steelmaker, plans to set up two greenfield steel projects in India each with a capacity of 12 million ton per annum (MTPA).
Acerinox SA, the world's 2nd biggest stainless steelmaker, is joining hands with Japan's Nisshin Steel to build a steel plant in India.
Tata Steel, the world's fifth largest steel maker, plans to double its capacity by 2015, by adding another 35 MT capacity.
India's largest steel manufacturer SAIL is planning to increase its annual production of 12 MTPA to 24.98 MTPA by 2011-12.
Sinosteel Corp, China's 2nd biggest iron ore trader, plans to invest US$ 4 billion to build a 5 MT greenfield steel plant
Kalyani Steels will set up an integrated steel and power project in West Bengal, at a cost of US$ 1.63 billion.
US$ 365.7 million investment coming in steel is coming up in Karnataka.
Mesco Steel plans to invest around US$ 2.8 billion in two steel plants – a brownfield expansion and the other a greenfield project – in Orissa.
Vedanta Resources plans to enter the Indian steel sector with a 5 MT plant at an investment of about US$ 6.02 billion in Orissa.
State-owned Steel Authority of India Ltd (SAIL) will invest US$ 5.006 billion in West Bengal. This is almost two-fifths of the US$ 13.27 billion spread planned by SAIL.
Tata Steel has acquired the Anglo-Dutch steelmaker Corus to become the world's 5th largest steelmaker, adding 19 MT of steel-making capacity.
Essar Global has acquired Canada's Algoma Steel for US$ 1.63 billion and US-based Minnesota Steel.
Naveen Jindal-promoted Jindal Steel & Power Ltd (JSPL) has bagged the US$ 2.1 billion contract for developing one of the world's largest iron ore deposits, El Mutun. The project includes a 2 MT steel plant in Bolivia.
JSW Steel has acquired Jindal United Steel Corporation, Saw Pipes USA and Jindal Enterprises LLC at Baytown, Texas, for US$ 940 million.
India's Steel Strips Wheels Ltd. has received an order from French car maker Renault SA worth US$ 27.56 million to supply around 1 million steel wheel rims for over 5 years.
