ESSAR STEEL ANNUAL REPORT 2010-11 PDF

M edia Release Re Negotiations. Reports Continued Progress in the Third Quarter. Ninety-Day Market Adjustment Plan. By using this site, you agree to the Terms of Service and Privacy Policy.

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Capacity in million tonne per annum The Main Producers produced The Major Producers produced The rest i. Pig iron production for sale in April - December was 4. The Main Producers accounted for only India remained a net importer of steel.

Annual Report l Domestic steel consumption was at New techno-economic bench marks have been evolved on International pattern for improvement in performance of Steel PSUs.

Shri P. Last meeting of IMG was held on The present per capita consumption of steel in the country is only around 49 kg against the world average of kg. A study has been commissioned through the Joint Plant Committee JPC during the to estimate the per capita demand for iron and steel in the rural sector of India and to determine the factors that can contribute to its enhancement. The findings of the study are expected to be finalized by June Ministry of Steel feels that Policy regarding iron ore export should aim at attracting investment in steel making capacity so that the value additions and export of finished products are promoted instead of exporting raw materials.

In the Group of Ministers GoM meeting to consider National Mineral Policy, , there was an agreement that iron ore resources of the country should be conserved for the use of domestic steel industry. It was decided that although conservation of iron ore resources of the country is of paramount importance, the same may not be achieved by banning or capping the export of iron ore but by taking recourse to appropriate fiscal measures.

Due to consistent efforts of Ministry of Steel, export duty has been imposed on iron ore. Subsequently, export duty was revised from time to time.

The present rates of duty on iron ore exports w. The various issues affecting the consumers of Steel namely opening of new stockyards and monitoring of their working, monitoring of the trend of domestic steel prices, review of prevailing excise and import duties and availability of steel material, figured prominently in the meeting.

Also seen in the picture are to the left Shri C. The process has since commenced. So far 31 projects have been completed and 24 research projects are underway. For ensuring quality of Steel, seven items such as galvanised sheet, steel wire for pre-stressed concrete etc. The matter to bring more steel items under this order is under examination. The Steel PSUs are in the midst of the capacity expansion plans.

The major thrust of the modernization and expansion plans is to adopt the best modern technology, which in addition to being cost effective should also be energy efficient and environment friendly. As a consequence of monitoring, a number of systemic improvements have been put in place in project implementation.

The expansion and modernization programme of the Steel Authority of India Ltd. SAIL is underway at all its steel plants to enhance the hot metal production capacity. Recently after onset of global recession and in view of the pressure on steel prices and possibility of diminished margins a review of overall expansion and modernization plans carried out in SAIL.

The proposed production built-up, as envisaged originally to go upto In phase-I the capacity would be ramped upto The current phase of expansion and modernization is targeted to be completed by the financial year In respect of RINL, expansion plan for increasing liquid steel capacity from 3. The environmental clearance for the plant has been accorded by Ministry of Environment and Forests.

The SPU at Bettiah is under implementation. For SPUs envisaged at the other locations, tendering activity for various packages is in progress. After approval of the Government, the two companies completed all the requisite statutory compliances. The Union Cabinet in its meeting held on 10th September, approved the restructuring plan of Bird Group of Companies. The commercially unviable companies viz. The above Cabinet decisions regarding restructuring of BGC have been implemented.

HSCL would be in a position to take up fresh infrastructure projects and earn profit after the implementation of the revival package. However, there are some financial issues that have to be finally resolved with the Ministry of Finance, particularly regarding the waiver of grants and loans. As on January 1, , SAIL had dealers in place covering districts in the country against dealers in ; and RINL has appointed dealers as against nil in The contribution of the companies under this Ministry, to Central and State Government exchequer by way of excise duty, customs duty, dividend, corporate tax, sales tax, royalty etc.

Produced The company exported 1. Total Sales during the year was NMDC produced Utilization of Stockyard at Haldia is ready for operation. Interest on GOI loan is as high as Manpower strength stands at as on 1. In September , MECON achieved a landmark by turning its negative net worth into positive and by September it had wiped out its accumulated losses. As on

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Mabar A lgoma Steel Inc. Annul have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act,for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. No representation referred to in section 3 has been received from the retiring Auditors. Dion Global Solutions Ltd. Reports Continued Progress in the Third Quarter.

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