Steel Ministry to set up SPVs with mineral-rich states
07/05/2015 10:20
The steel ministry has decided to set up special purpose vehicles (SPVs) with mineral-rich states like Odisha, Chhattisgarh, Jharkhand and Karnataka, PTI reported. As per PTI report, iron ore miner NMDC's wholly-owned steel plant in Nagarnar (Chhattisgarh), which is being established with an investment of around Rs 15,525 crore, will be functional by December 2016. "The Ministry of Steel is facilitating setting up of SPVs in mineral-rich states of Odisha, Chhattisgarh, Jharkhand and Karnataka," PTI quoted Minister of State for Steel and Mines, Vishnu Deo Sai as saying this. "The steel plant will have production capacity of 3 MTPA with the likely date of commissioning as December 2016," he added. As per the figures from World Steel Association, India's per capita consumption of total finished steel was 60.3 kg in 2014-15, compared with a world average of 219 kg in 2013. The estimated domestic per capita consumption of total finished steel was around 11 kg for rural India and 170 kg for urban India in 2014-15.
07/05/2015 10:20
The steel ministry has decided to set up special purpose vehicles (SPVs) with mineral-rich states like Odisha, Chhattisgarh, Jharkhand and Karnataka, PTI reported. As per PTI report, iron ore miner NMDC's wholly-owned steel plant in Nagarnar (Chhattisgarh), which is being established with an investment of around Rs 15,525 crore, will be functional by December 2016. "The Ministry of Steel is facilitating setting up of SPVs in mineral-rich states of Odisha, Chhattisgarh, Jharkhand and Karnataka," PTI quoted Minister of State for Steel and Mines, Vishnu Deo Sai as saying this. "The steel plant will have production capacity of 3 MTPA with the likely date of commissioning as December 2016," he added. As per the figures from World Steel Association, India's per capita consumption of total finished steel was 60.3 kg in 2014-15, compared with a world average of 219 kg in 2013. The estimated domestic per capita consumption of total finished steel was around 11 kg for rural India and 170 kg for urban India in 2014-15.
