Ahmedabad-based Electrotherm (India), which offers customised steel-making machinery to the secondary steel industry, expects to produce 100 units of its newly developed continuous casting machine (CCM) next year.
The mining company, Orissa Minerals Development Company, has decided to invest around Rs 800 crore in setting up iron ore pelletisation and beneficiation plants to convert iron ore fines lying as waste into usable raw material for the steel industry. State owned OMDC will invest Rs 400 crore each in setting up one pelletisation plant and one beneficiation plant of 2 mn tonne capacity each.
The ore-starved steel industry in Karnataka is unlikely to see higher supply in the near future. The Central Empowered Committee of the Supreme Court has not endorsed the industry's appeal for a temporary increase in the permissible annual production from mines with leases. It has also opposed the state government's similar appeal, for raising the production cap from 30 mtpa to 40 mtpa.
In 2007-08, the Indian steel industry entered into a new stage of development, riding high on the resurgent economy and rising demand for steel. Today, rapid rise in production has resulted in India becoming the fourth largest producer of crude steel.
OCL India (OCL) is the flagship company of the Dalmia Group of Companies, set up and operating from eastern India. Incorporated in 1950-51 and earlier known as Orissa Cement, OCL is engaged in manufacturing of refractory for the steel industry. However, refractory accounts for only about 10 per cent of its total revenues.
The Union Government has categorically stated that although it is willing to provide protection to the domestic pipe manufacturers against unfair trade practices, the industry must also act responsibly, a top Steel Ministry official reportedly said at an ASSOCHAM event held in New Delhi.