A note for fixing minimum import price for various steel products has been sent to the Prime Minister's Office (PMO), union minister of state for steel and mines, Vishnu Deo Sai said at an ASSOCHAM event held in New Delhi on Wednesday. “The ministry is looking into the industry’s suggestion to impose minimum import price on steel products and it has been sent to the PMO last week,” said Sai while inaugurating 9th Steel Summit organised by The Associated Chambers of Commerce and Industry of India (ASSOCHAM). Sai said that steel and mines ministry is in talks with state-run iron ore miner, National Mineral Development Corporation (NMDC) to explore the possibility of further reducing the iron ore prices. “Now that winter session of Parliament has ended, we will sit with our senior minister and look into the challenges being faced by the Indian steel sector and explore possible solutions,” said the minister. He informed that the mines and steel ministry has initiated talks with secondary steel producers to find a solution to their problems. He also said that total investment in setting up four ultra-mega steel projects (UMSP) will cross Rs 1.5 lakh crore mark as the government aims that each plant should have a capacity to produce 60 lakh ton steel. “Apart from producing 10 lakh ton of steel if we add the cost of mining, the investment amounts to about Rs 6,000 crore.” He said that the Centre has signed an agreement letter with Jharkhand and Chhattisgarh in this regard and is in talks with Karnataka government vis-à-vis a three million ton steel plant.
0 comments:
Post a Comment