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Steel ministry seeks iron ore mines for RINL

Source : BUSINESS_STANDARD
Last Updated: Tue, Nov 20, 2012 01:00 hrs

Union Steel Minister Beni Prasad Verma on Monday urged the Uttar Pradesh government to expedite the procedures for the lease of iron ore mines in Lalitpur district of Bundelkhand region to the Rashtriya Ispat Nigam Limited (RINL).

“We are confident the state government would soon take positive steps in this direction,” Verma said here.

RINL had already applied for the lease of iron ore mines in Lalitpur district for setting up a pellet unit in the region. A P Chaudhary, Nigam chairman and managing director, said the plant would provide direct employment to 500 locals.

Meanwhile, the Union minister said the state-run RINL and SAIL were aggressively setting up rural dealerships in India to boost per capital steel consumption.

So far, RINL and SAIL has set up 538 and 440 rural dealerships respectively and plan to up the number to 1,000 each in near future.

The domestic rural steel market in India is expected to burgeon and the rural dealerships would play a vital role in expanding the steel consumption in remote areas, Verma added. Meanwhile, RINL plans steep processing units (SPU) in Ambedkar Nagar and Ghaziabad districts of UP. It is also establishing rural stockyards, including one in Varanasi.

Verma said SPUs are being set up in states, where there are no big steel plants to boost local availability of steel products and generating employment.

RINL had clocked 21 per cent growth in the sale of steel products in UP during 2011-12 compared to the previous year.

India, the world’s fourth largest steel producer, is targetting steel production capacity of 200 million tonnes (MT) by 2020 from the current about 80 MT. At present, China is the global leader in steel production followed by USA, Russia and India.



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