Enhancing Steel Demand

01 Sep 2021

Shyam Steel was the Gold sponsor at the Infra Steel Summit organised by CW on July 30 to help shape the steel industry of tomorrow.

India’s finished steel consumption grew at a CAGR of 5.2 per cent during FY16-FY20 to reach 100 MT. India’scrude steel and finished steel production increased to 108.5 MT and 101.03 MT in FY20P, respectively. Between April 2020 and January 2021, India’s cumulative production of finished steel at 76.04 MT. Forthe period April 2020 and February 2021, India’s cumulative production of crude steel stood at 93.1 MT.

Domestic demand for steel had picked up pace in the second half of FY21, however, the second wave of the Coronavirus has mildly hit demand from certain sectors. Steel producers are likely to cover up the lost production and the annual crude steel output forecast by CARE Ratings is a healthy 9-11 per cent growth for FY22.

In this scenario, CW organised the Infra Steel Summit on July 30 to help shape the steel industry of tomorrow. Topics of discussion included ‘Rise in Steel Demand in Railways: Focus on Bridges’, ‘Key drivers for Steel Demand in Construction & Infrastructure’, ‘Moving to Next Gen Construction with Modular Construction Solutions’, ‘Steel Engineering Marvel: Highest Arch Chenab Bridge’, and Rerolling Steel: Environmental sustenance or a quality hazard for megaprojects’. Shyam Steel was the Gold sponsor for the summit.

A legacy
Shyam Steel Industries is one of the leading steel manufacturers in India with its diverse product range that includes TMT bar, structural steel, corrosion-resistant steel, coil, etc. With an abiding faith in the philosophy of producing unmatched quality of safe and sustainable steel, it emphasises on customers’ choice and excellence. With its modest beginning as far back as in 1953 in Howrah, just a few years after the country attained Independence, it has now emerged as a large, growing, competitive, robust and multi-product steel organisation carrying its rich legacy of commitment and dedication to the cause of the nation. The rich heritage that it bears is enriched with unassailable reputation and goodwill in the market.

This $30-billion group has emerged as a steel giant with its presence firmly placed in the infrastructure segments including Indian Railways, defense, ports, roads and highways, airports, energy and other key areas of national importance. With its plants located in the West Bengal, Shyam Steel caters to the need of a vast multitude of clientele across the country and beyond. Having a highly satisfied customer base and pan-India sales andmarketing network with an extremely professional team and dynamic logistics support system, Shyam Steel has witnessed stellar financial performance with faster growth even during the critical phase of the steel industry.

Apart from the quest for achieving cent percent customer satisfaction through continual improvement of its product qualityand contributing to the rapid economic growth of the country, the company is now on asteady expansion mode braving the disruptions caused by COVID-19 pandemic.It is equally committed to meaningfully contribute to the realisation of the target of 300 MT steel production by 2030-31 in keeping with the National Steel Policy announced by the Government of India towards transforming India into a self-reliant $5-trillion economy.

In addition to its core business in the Steel industry, Shyam Steel Industries has diversified in other sectors of business to reinforce its contribution to the nation’s development trajectory.

Shyamsree Infrastructure, a subsidiary of the Shyam Steel Industries, has been implementing major infrastructure projects like roads, bridges, buildings, railway over-bridges, etc, and emerged as a key player in the sector. Shyam Futuretech LLP, another subsidiary of Shyam Steel, is engaged in implementing various IT projects across the country as well as abroad with proven efficiency and excellence in service quality. The company is on a steady growth path by harnessing the power of digital transformation.

Committed to the cause of the nation, Shyam Steel is deeply engaged in philanthropic activities as well, particularly in the health, education, environment and social welfare sectors as a part of its CSR. The group believes that sustainable community development is sine qua non for equity and social justice towards establishment of a just society where smile will be there on every face. What makes Shyam Steel different as a corporate citizen from its peers and contemporaries, is its passionate belief in giving back to the society in full measure.

(Communication by the management of the company)

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