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India's steel capacity grew to 90 mn tonnes in 2012: Beni Prasad Verma

NEW DELHI: India's steel capacity has gone up by 36 per cent to 90 million tonnes a year between 2009 and 2012, Steel Minister Beni Prasad Verma said today.

Chairing the meeting of the 
Parliamentary Consultative Committee attached to his Ministry, Verma said:" Capacity of steel production in the country has increased from 66 million tonnes in 2009 to about 90 million tonnes in 2012."

In 2012, steel production grew by 4.3 per cent, he informed members of the committee, an official release said, adding that the functioning of 
Steel Authority of IndiaBSE -0.46 % (SAIL) was the agenda of the meeting.

Stating that India continues to hold the fourth rank in global crude steel production for past three years, Verma said per capita steel consumption in the country has risen to 60 kg in 2011-12.

"The Minister stressed on the importance of conserving raw material resources in the country and elaborated on the measures taken by the Government," the release said.

The members were also briefed about global and domestic steel scenario and functioning of
SAILBSE -0.46 % and its performance on various parameters. Details of marketing initiatives and modernisation and expansion plan were also discussed, it said.

"Some of the members complimented SAIL on its working, while some expressed concern over the progress of expansion plan and profitability of the company," the release said.