India’s steel output to touch 124 mt by 2011-12: Minister

September 11th, 2009 NEW DELHI - Further signs of recovery in India's industry emerged Friday with the latest official data indicating a 6.8 percent growth in July over the like month last year. Notably, the manufacturing output rose 6.8 percent during the month, as per the data on the index of industrial production released by the Central Statistical Organisation here.

July 23rd, 2009 NEW DELHI - Signalling a recovery for Indian industry, the output of six core infrastructure sectors expanded 6.5 percent in June against 2.8 percent in the previous month, official data showed Thursday. The six core infrastructures industries, comprising crude oil, refined petroleum fuels, coal, electricity, cement and finished steel, with a collective weight of 26.7 percent in the industrial production index, had grown by 5.1 percent in June last year.

July 23rd, 2009 NEW DELHI - The timely release of stimulus packages has helped the infrastructure sector post a good growth rate last month despite the economic slowdown, Commerce and Industry Minister Anand Sharma claimed here Thursday. Referring to the 6.5 percent growth rate achieved by the six core infrastructure sectors in June, Sharma said: "It's clear that the government's stimulus packages and the budgetary proposals have had a positive impact.

July 20th, 2009 World steel output down 21 pct in first 6 monthsBRUSSELS — World steel output plunged 21.3 percent in the first six months of 2009 from a year ago, the main steel industry group said Monday. Chinese and Indian steel makers were the only major producers to increase output in the first half, the World Steel Association said.

July 7th, 2009 German iron, steel output falls 45 percentFRANKFURT — German iron and steel output for June fell sharply as the world recession continued to cut into demand for the country's machinery and car exports, the Federal Statistical Office reported Tuesday. The Wiesbaden-based office said Germany's producers made 1.44 million metric tons (1.59 US tons) of iron for the month, a 45 percent decline over the same month last year, while they made 2.5 million metric tons (2.76 US tons) of steel, a 41 percent decline.

June 28th, 2009 SHIMLA - The priority of his ministry would be to help steel majors set up their stalled projects, Steel Minister Virbhadra Singh said here Sunday. "The priority of our government is to enable steel majors like Mittal Steel, Essar Steel, the Jindal group and Posco set up their units in the country," Singh told IANS in an informal interaction at his residence.

June 28th, 2009 NEW DELHI - A leading industry body has called for increasing customs duty on steel from 5 percent to 10 percent as consumption of local steel by domestic users was falling. According to the Federation of Indian Chamber of Commerce and Industry (Ficci), imported steel accounted for over 11 percent share of consumption, as compared to 6 percent a few years ago.

June 12th, 2009 SHIMLA - Expansion and modernisation of state-run steel plants to double their output are among the top priorities of the government, Steel Minister Virbhadra Singh said here Friday. "Our main priority is to expand and modernise the state-run steel plants so that their capacity would be doubled," he told reporters here.

June 11th, 2009 MUMBAI - Any hike in steel prices is unjustifiable as the cost of iron ore and coking coal have come down since last year, Steel Secretary P.K. Rastogi said here Thursday.

June 10th, 2009 NEW DELHI - Steel Minister Virbhadra Singh Wednesday pushed for divestment of stake in companies under his ministry and said he would take up the issue of adequate supplies of feedstock for steel units with the states concerned. "If the policy of disinvestment is approved, we have some companies on our mind, Singh told reporters while presenting his ministry's agenda for the next 100 days.

May 29th, 2009 NEW DELHI - Steel Minister Virbhadra Singh Friday said ensuring the timely completion of the expansion projects drawn up by state-run steel units to increase the production of the commodity was among his top priorities. There is also the need restructure the small steel public sector undertakings and attempt to merge them to bring about more synergies among them, Singh told reporters here after taking charge his new portfolio.

May 12th, 2009 NEW DELHI - India's industrial output fell for the third consecutive time in four months in March by a steep 2.3 percent compared to the same month last year, according to data released by the government Tuesday. Production in the manufacturing sector declined 3.3 percent during the month under review from the year earlier.

April 10th, 2009 AGARTALA - The biggest gas-based steel plant in northeast India started commercial production in Tripura Friday. The Noida-based Dharampal Premchand Ltd (DPL), manufacturers of the 'Baba' brand of tobacco products, has diversified into steel production to set up the Rs.250-crore steel plant at Bodhjungnagar, 12 km north of Tripura's capital Agartala.

February 2nd, 2009 NEW DELHI - Despite a demand slowdown for steel during the current fiscal, Steel Minister Ram Vilas Paswan Tuesday said the target of producing 124 million tonnes of the commodity in the country annually was being advanced by eight years. 'The country aims to produce 124 million tonnes of steel annually by 2012 compared with the earlier target of 2020,' Paswan told the golden jubilee celebrations of the state-run Steel Authority of India Ltd (SAIL) here.

February 2nd, 2009 NEW DELHI - Despite a demand slowdown for steel during the current fiscal, Steel Minister Ram Vilas Paswan Tuesday said the target of producing 124 million tonnes of the commodity in the country annually was being advanced by eight years. 'The country aims to produce 124 million tonnes of steel annually by 2012 compared with the earlier target of 2020,' Paswan told the golden jubilee celebrations of the state-run Steel Authority of India Ltd (SAIL) here.