Steel production set to quadruple

MUMBAI — India’s steel production capacity will at least quadruple by 2020, catapulting the nation to the world’s second-biggest maker of the alloy from the seventh biggest, said Tata Steel Limited, India’s oldest steelmaker.



By (Bloomberg)

Published: Tue 20 Nov 2007, 9:04 AM

Last updated: Sat 4 Apr 2015, 11:19 PM

Should only 80 per cent of announced expansions be built, India’s capacity will jump to more than 175 million metric tonnes a year by the end of next decade, up from 44 million, Amit Chatterjee, adviser to the managing director at Tata Steel, said today in a conference in Sydney.

Steel Authority of India Limited, Tata Steel, ArcelorMittal and Essar Steel Limited are among existing producers in India that have announced plans to add 99.4 million tonnes of capacity in the next 10 years. Per-capita consumption of steel within India is 38 kilogrammes, compared with a world average of 189, Tata said.

“Indian steel will be big, it will be second only to China by 2020,” Chatterjee said at McCloskey Group’s Australian Coal conference.


More news from Business
Luxury vrooms again

Business

Luxury vrooms again

This year the #NoFilterDXB witnessed a dazzling array of replica vehicles from some of Hollywood’s most classic movies and TV shows.

Business2 days ago