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Thread: Ministry of Steel - Press Releases - 2011.

  1. #121
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    Thumbs up Steel Consumption in India.

    Press Releases

    12 -December, 2011


    Steel Consumption in India


    The Minister of Steel, Shri Beni Prasad Verma has said that during 2010, India’s per capita consumption of finished steel stood at 55 kg, which was low when compared to the world average per capita consumption of finished steel of 206 kg and average of developed countries of 324 kg. Low per capita consumption of steel in India is related to low per capita income level, large size of the population and less development of infrastructure.

    In a written reply in the Lok Sabha today he said, in order to obtain a full picture of the pattern and trends of steel consumption in rural India, an all India survey has been conducted by the Ministry of Steel, Government of India. The survey is coordinated by Joint Plant Committee (JPC), Kolkata and the field work has been carried out by IMRB International Ltd. As on date, the survey has been completed and a draft report submitted to the Ministry of Steel.

    Shri Verma said, the Steel Industry in India is deregulated and hence Government plays only the role of a facilitator in accelerating the steel consumption in the country. In the recent years, all major producers of steel have increased their capacity and production and also have taken action to expand their dealership in rural and semi urban areas substantially to make quality steel available to the users at their doorsteps.

  2. #122
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    Thumbs up Australian Minister Calls on Union Steel Minister to Discuss Cooperation in Mining and Ore Exploration.

    Press Releases

    16 -December, 2011

    Australian Minister Calls on Union Steel Minister to Discuss Cooperation in Mining and Ore Exploration

    The Minister for Employment and Workplace Relations and Minister for Financial Services and Superannuation, Government of Australia, Mr. Bill Shorten called on the Union Minister for Steel Shri Beni Prasad Verma here yesterday. They discussed cooperation in the Mineral and Mining sector.

    During the meeting, Shri Verma said that 80% of coking coal used by Indian Steel Industry is imported from Australia. He said that Australia a very important partner for the India, which contributes significantly to India’s growth. Shri Verma urged Mr. Shorten for support to Indian Iron and Steel Industry to acquire coking coal and iron ore assets in Australia. Mr. Bill Shorten, assured all help to the Indian companies to set up a base in Australia.

    During his interaction with the foreign delegation, the Secretary Steel, Shri P.K. Misra sought the help of Australian Government in verifying that the mineral properties being acquired by Indian companies are encumbrance free. Replying to the secretary’s questions Mr. Shorten said that such aspects could be looked into.

    The Chairman of SAIL, Shri C.S. Verma said that SAIL sources 10 Million tonnes of coking coal from Australia and is scouting for coking coal properties in the country. He asked if Australian banks could give loans at competitive rates to our ventures in Australia, it would boost investments by Indian companies in Australia’ he said. Replying to the question, Mr. Bill Shorten said that superannuation fund in Australia is large and mechanisms can be worked out to give loans from this. But he added that for any such arrangement to work out, a thorough dialogue between the two Governments is necessary.

    ***

  3. #123
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    Thumbs up Investments in Overseas Steel Projects.

    Press Releases

    19 -December, 2011


    Investments in Overseas Steel Projects


    The Minister of Steel, Shri Beni Prasad Verma has said that Steel is a deregulated sector. Private steel companies take decisions in respect of investment in foreign countries as per their business plans/ ambitions in accordance with RBI Guidelines etc. Ministry of Steel, however, does not maintain data on this. As far as Central Public Sector Enterprises (CPSEs) under the Ministry of Steel are concerned no such investments have been made so far.

    In a written reply in the Lok Sabha today he said, a global tender was floated by Ministry of Mines, Islamic Republic of Afghanistan for development of Hajigak iron ore deposit having estimated reserve of 1.77 billion tonne in Bamiyan Province. A consortium comprising Indian companies’ viz. Steel Authority of India Limited (SAIL – Lead Member), NMDC Limited, Rashtriya Ispat Nigam Limited (RINL), Jindal Steel and Power Limited (JSPL), JSW, JSW Ispat and Monnet Ispat & Energy submitted its bid on 04/9/2011.

    He said, in the bid submitted by SAIL led consortium, it has been proposed to develop the Hajigak Iron–ore deposits, setting up of a steel plant subject to coking coal linkages by Government of Afghanistan and development of infrastructure like rail, road, power plant etc. This consortium has been awarded three Blocks with estimated iron ore reserves of 1288.75 MT and further negotiations are to take place soon.

    This is purely a commercial decision, taken by the CPSEs and the private sector companies concerned as per their business ambitions and mutual interests. Ministry of Steel is not averse to this development, the Minister added.

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  4. #124
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    Thumbs up Employment in Steel Sector.

    Press Releases

    19 -December, 2011


    Employment in Steel Sector


    The Minister of Steel, Shri Beni Prasad Verma has said that there has been a significant increase in production of steel during the last few years. The data on production of crude steel in the country during the last five years is as under:


    Year Crude steel production (in million tonnes)
    Quantity Growth rate over last year (%)
    2006-07 50.81 9.4
    2007-08 53.86 5.9
    2008-09 58.44 8.5
    2009-10 65.84 12.7
    2010-11* 69.57 5.7
    Source: Joint Plant Committee (JPC); * =Provisional








    In a written reply in the Lok Sabha today he said, there is no direct correlation between increase in employment and the increase in production of steel. It is not necessary that the employment should increase in the same ratio with the increase in production due to technological developments, automation, process improvement & best practices and the need to progressively reduce manpower per million tonne of steel production which made it possible to achieve higher production targets with less manpower.

    He said, the details of production of crude steel in the public sector undertakings and direct employment generated / recruitment made during the last three years are as under:-


    Steel Authority of India Ltd.(SAIL)

    Year Production
    (in million tonnes)
    No. of Recruitment
    2008-2009 13.41 1288
    2009-2010 13.51 1788
    2010-2011 13.76 1575
    Source: SAIL

    Rashtriya Ispat Nigam Ltd. (RINL)

    Year Production
    (in million tonnes)
    Manpower
    as on 31st March
    2008-2009 3.145 17,225
    2009-2010 3.399 17,830
    2010-2011 3.424 17,829
    Source: RINL

    The Minister said, in today’s de-regulated, open market economy, the role of Government is that of a facilitator and in that capacity, it promotes/encourages growth of steel industry through suitable policy measures. Both the existing public sector steel companies namely SAIL and RINL are in the process of expanding their crude steel capacities thereby creating employment opportunities for unemployed youths.

    Another public sector company, namely NMDC Ltd., is setting up a 3 million tonnes per annum integrated steel plant at Nagarnar, Chhattisgarh which is likely to generate additional employment opportunities, Shri Verma added.


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  5. #125
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    Thumbs up Moil Presents Rs. 54.10 Crore Dividend Cheque to the Steel Minister.

    Press Releases

    19 -December, 2011


    Moil Presents Rs. 54.10 Crore Dividend Cheque to the Steel Minister



    The final dividend cheque of Rs. 54.10 crores was presented by Manganese Ore (India) Limited (MOIL) to the Union Minister of Steel Shri Beni Prasad Verma here today. Shri K.J. Singh, Chairman cum Managing Director of the Miniratna Category - I PSU presented the cheque to the Minister.

    The Minister reviewed the performance of MOIL and expressed concern over the company’s falling profits. Encouraging the company to perform better he asked MOIL to improve its performance and aim at becoming the foremost manganese ore producer of the country.

    During the year 2011-12 (April-November, 2011), the production of manganese ore was 6.42 lakh tonnes. MOIL achieved a total sales turnover of Rs. 593.45 Crores (provisional) during this period. The company earned profit before tax of Rs. 382.72 crores (provisional) and profit after tax of Rs. 255.59 crores (provisional).

    MOIL declared a total dividend of 70%, out of which interim dividend of 25% has already been paid to the shareholders. Presently, the paid up capital of the company is Rs.168 Crores, 71.57% of which is held by the Government of India, 4.62% by the Government of Maharashtra, 3.81% by the Government of Madhya Pradesh and 20% by Public.

    The company has been taking measures to meet the domestic demand by implementation of mining projects like deepening of existing vertical shafts and sinking of new shafts. The company has also set up joint venture companies with SAIL and RINL for manufacture of ferro alloys.

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