S K Chaurasiya
Ganesh Viswakarma
Abstract
There has been a marked growth in the steel producing capacity in the country which rose from 43.91 million tons in 2003-04 to 72.4 million tons per annum at present. As per the 'most likely scenario', steel demand in India is expected to grow at considerably higher annual average rate of over 10 % over the next five years. As per the projections of ministry of steel, steel production capacity in the country is likely to be around 100 million tons by 2014-15. Low per-capita consumption of steel at about 50 kg compared to more than 400 kg in the developed countries provides ample scope for the expansion of the steel industry in the country. Current downturn in global economy presents an excellent opportunity for expanding capacities. To meet the increased requirement of the iron ore of the country, NMDC will be expanding its iron ore mining capacity from the present levels of 30 million tons to 50 million tons by 2014–15. To meet the future steel demand of the country, NMDC is setting up a 3 million tons integrated steel plant at Nagarnar, in Bastar district of Chhattisgarh as a forward integration measure.
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