Steel Re-Rolling Mills Association of 29th Issue Steel Re Rolling Mills Association of India visit Page 3 SRMA STEEL NEWSLETTER SRMA Steel Re Rolling Mills Association of India SRMA Steel News is a division of Steel Re

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[29th Issue Steel Re Rolling Mills Association of India visit www.srma.co.in Page 2 SRMA STEEL NEWSLETTER SRMA Steel Re Rolling Mills Association of India www.sram.co.in Steel Re-Rolling Mills Association of India www.srma.co.in Email : srmakol@srma.co.in Sl. No, Name 1. Shri B.M. Beriwala, Chairman 2. Shri Jagmel Singh Matharoo, Vice Chairman 3. Shri Ramesh Kumar Jain, Treasurer 4. Shri Sanjay Jain Committee Member 5. Shri Kailash Goel 6. Shri Om Prakash Agarwal 7. Shri Sushil Sharda 8. Shri Sandip Agarwal 9. Shri S S Sanganeria 10. Shri Sanjay Surekha 11. Shri R P Agarwal 12. Shri S S Bagaria 14. Shri Girish Agarwal 15. Shri Goutam Khanna 16. Shri Suresh Bansal 17. Shri Rajiv Jaiodia 18. Shri Bhusan Agarwal 19. Shri Mahesh Agarwal 20. Shri Sita Ram Gupta 21. Shri G P Agarwal 22. Shri Suresh Goyal 23. Shri Hari Mohan Beriwala 24. Shri Sitaram Agarwal 25. Shri Sonal Mittal 26. Shri Avinash Bagla 27. Shri Shankar Lal Agarwal 28. Shri Dipak Agarwal Sp. Invitee 29. Shri Vivek Adukia http://www.srma.co.in/mailto:srmakol@srma.co.in[29th Issue Steel Re Rolling Mills Association of India visit www.srma.co.in Page 3 SRMA STEEL NEWSLETTER SRMA Steel Re Rolling Mills Association of India www.sram.co.in SRMA Steel News is a division of Steel Re-Rolling Mills Association of India and takes due care in preparing this news. Information has been obtained by SRMA from sources, which it considers authentic. However, SRMA does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. SRMA is not liable for investment decisions, which may be based on the views expressed in the News. SRMA especially states that it has no financial liability whatsoever to the subscribers/users/transmitters/distributors of this News. And no part of this news may be published/reproduced in any form without SRMAs prior written approval. [29th Issue Steel Re Rolling Mills Association of India visit www.srma.co.in Page 4 SRMA STEEL NEWSLETTER SRMA Steel Re Rolling Mills Association of India www.sram.co.in Executive Summary Coal Scenario of India Environment & Safety Indian Skilled Manpower Challenge and Vision of NSDC Taxation (Circular/Notification) Events Latest Steel News CONTENTS [29th Issue Steel Re Rolling Mills Association of India visit www.srma.co.in Page 5 SRMA STEEL NEWSLETTER SRMA Steel Re Rolling Mills Association of India www.sram.co.in No country can be politically and economically independent unless it is highly industrialized and has developed its resources properly. Indias development were broadly incorporated in free Indias first Industrial Policy Resolution adopted by the Constituent Assembly in 1948. The resolution officially accepted the principle of mixed economy. Industries were divided into four categories. In the first category were strategic industries which were made the monopoly of the Government. In the second category were six industries which included, among others, coal, iron and steel. It was decided that new units would be started exclusively by the government in the public sector without disturbing the existing ones in the private sector. Eighteen industries, including heavy castings and forgings of iron and steel, Ferro alloys and tool steel were covered by the third category and the rest of the industries by the fourth. In sum, the government committed itself to the development of basic steel industry while the private sector was to benefit through the establishment of downstream units which would use pig iron, billets, blooms and flat products to be made by the public sector steel plants. Many of the developed nations during their course of economic development had relied heavily on their domestic steel industry to meet the requirement of faster industrial development and for building physical infrastructure. Even though steel is a freely traded commodity, large scale dependence of a growing economy like India on imported steel may make the economy vulnerable to uncertainty in global supply, export policies of different countries and volatility in international prices. For India, the case for domestic production of steel is even stronger due to indigenous availability of resources and a need to minimize strain on current account balance. In fact, the revealed comparative advantages of labour and raw material have the potential of making India a leading exporter of steel in the world. The story of the modern steel industry began in the late 1850s and has really been going through major changes since 1970. It has often been considered to be an indicator of a country's economic progress, due to steel's critical role in infrastructural and overall economic development. There has been a massive increase in the demand for steel since the turn of the millennium due to the economic boom of both China and India. World steel demand increased during the early 2000's; at the same time, many Indian and Chinese steel companies have risen to notability. Although China, as a whole, is both the largest steel producer and consumer. The world steel industry peaked in 2007, when the steel-using sectors plunged and the construction industry used 50% of steel produced (the next highest usage was mechanical machinery & metal products with about 15% each). Although it deserves to be said that the slowdown was occurring already before the worldwide great recession that started in 2008. Demand was weak in 3 of the 4 major steel countries and steel mills strongly reduced output. Heavy cutbacks in construction caused falling prices (down about 40%) due to a sharply lowered demand. It was observed that the industrys turnaround in late 2009 and continued to grow together with the global economic recovery. World crude steel production went up from 851 megatons (Mt) in 2001 to 1,548 Mt in 2012-13. This outperformed 2011 by almost 1.5%. Specifically, the U.S. steel sector will be dealing with excess capacity as its most significant issue due to the continued growth in new steelmaking facilities. However, on a good note, global steel demand is expected to improve gradually this year in comparison to 2012-13. In the United States, growth will be supported by attempts to sustain the economy's momentum, an improving labor market, strong momentum in the auto sector and recovery in construction markets. Increased demand should lead to improved profitability for 2014 and 2015, driven by better utilization rates. European steel demand is likely to fall further this year before a mild rebound takes hold in 2014. The big challenge for steelmakers in 2013 is to be cost competitive while maintaining enterprise value. TOP [29th Issue Steel Re Rolling Mills Association of India visit www.srma.co.in Page 6 SRMA STEEL NEWSLETTER SRMA Steel Re Rolling Mills Association of India www.sram.co.in Status of Coal Resources in India - As a result of regional, promotional and detailed exploration by Geological Survey of India (GSI), Central Mine Planning & Design Institute Limited (CMPDI), Singareni Collieries Company Limited (SCCL), Mineral Exploration Corporation India reached to 299 billion tonnes as on 1.4.2013. the estimates of coal resources in the country during last 5 years are given below: As on Geological Resources of Coal (in million tonnes) Proved Indicated Inferred Total 1.4.2009 105820 123470 37920 267210 1.4.2010 109798 130654 36358 276810 1.4.2011 114002 137471 34389 285862 1.4.2012 118145 142169 33182 293497 1.4.2013 123182 142632 33100 298914 Source : Provisional Coal Statistics 2012-13, Ministry of Coal The details of type and category-wise coal resources of India as on 1.4.2013 are given in the table below: Type-wise and Category-wise Coal Resources in India (in million tonnes) Type of Coal Proved Indicated Inferred Total (A) Coking - Prime Coking 4614 699 0 5313 -Medium Coking 13269 11893 1879 27041 -Semi-Coking 482 1003 222 1707 Sub-Total Coking 18365 13595 2101 34061 (B) Non-Coking (including high sulphur) 104816 129037 30999 264852 Grand Total 123182 142632 33100 298914 Source : Provisional Coal Statistics 2012-13, Ministry of Coal Among all the states endowed with coal resources in the country, Jharkhand (80701 million tonnes mt) is the richest, followed by Odisha (73710 mt) and Chhattisgarh (52169 mt), in terms of total inventory of geological resources of coal as on 1.4.2013. the details of state-wise inventory of coal resources are provided in the table below: State Wise Inventory of Geological Resources of Coal in India as on 1.4.2013 State Coal Resources (in million tonnes) Proved Indicated Inferred Total Andhra Pradesh 9604 9554 3049 22207 Arunachal Pradesh 31 40 19 90 Assam 465 46 3 514 Bihar 0 0 160 160 Chhattisgarh 14779 34107 3283 52169 Jharkhand 41155 32986 6559 80701 Madhya Pradesh 9818 12355 2889 25061 Maharashtra 5667 3186 2110 10964 Meghalaya 89 17 472 576 Nagaland 9 0 307 315 Odisha 27284 37110 9316 73710 [29th Issue Steel Re Rolling Mills Association of India visit www.srma.co.in Page 7 SRMA STEEL NEWSLETTER SRMA Steel Re Rolling Mills Association of India www.sram.co.in Sikkim 0 58 43 101 Uttar Pradesh 884 178 0 1062 West Bengal 13396 12995 4892 31283 India 123182 142632 33101 298914 Source : Provisional Coal Statistics 2012-13, Ministry of Coal Coal Production In the year 2012-13, the coal production in India reached 557.707 mt and registered an increase of 3.29 percent over the last year. In case of lignite, the production increased from 42.332 mt to 46.598 mt registering an increase of 10.08 percent over the last year. Coal Production (in million tonnes) Year Quantity 2008-09 492.76 2009-10 532.04 2010-11 532.69 2011-12 539.95 2012-13 557.71 Source : Provisional Coal Statistics 2012-13, Ministry of Coal; (P) Provisional The year-wise, company wise growth in coal production in the country during the last five years is provided in the table below: Production of Coal by CIL ( & subsidiaries) & SCCL (in million tonnes) Source 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 ECL 24.06 28.13 30.06 30.81 30.56 33.91 BCCL 25.22 25.51 27.51 29.00 30.20 31.21 CCL 44.15 43.24 47.08 47.52 48.00 48.06 NCL 59.62 63.65 67.67 66.25 66.40 70.02 WCL 43.51 44.70 45.74 43.65 43.11 42.29 SECL 93.79 101.15 108.01 112.71 113.84 118.22 MCL 88.01 96.34 104.08 100.28 103.12 107.89 NEC 1.10 1.10 1.11 1.10 0.60 0.605 CIL 379.46 403.73 431.26 431.32 435.83 452.211 SCCL 40.60 44.55 50.43 51.33 52.21 53.19 Others 36.94 44.48 51.31 50.41 51.90 52.31 Total 457.00 492.76 533.00 533.06 539.94 557.71 Source : Provisional Coal Statistics 2012-13, Ministry of Coal (P) Provisional Demand and sector-wise supply : - There has been a continuous increase in the sector-wise as well as overall demand for coal over the years. The demand for indigenous coking coal in the steel sector (including coke ovens and cookeries) has risen from 16.45 million tonnes (mt) in 2009-10 to 22.30 mt (BE) in 2012-13 and that for imported coking coal has risen from 24.69mt to 30mt (BE) in 2012-13. In the intermediate year of 2009-10, the demand for indigenous coking coal dipped from 16.45 mt to 15.90 mt. This year also saw a sharp increase in the demand for imported coking coal from the steel sector (13.4 percent on year-on-year basis) but the demand trends appear to have stabilized in the consecutive years. In fact, as per estimates, the indigenous demand for coking coal by the domestic steel sector has risen by 40 percent in the year 2012-13, on a year-on-year basis, whereas the corresponding demand for imported coking coal by the sector appears to have stagnated at around 30 mt. The non-coking coal demand by the Steel DR sector has also seen a substantial rise in demand in the year 2012-13, as per available estimates. The non-coking coal demand which dipped by (7.8) percent on a year-on-year basis in 2011-12, rose sharply by 66 percent in 2012-13. The Steel DR sector is also the second largest consumer of non-[29th Issue Steel Re Rolling Mills Association of India visit www.srma.co.in Page 8 SRMA STEEL NEWSLETTER SRMA Steel Re Rolling Mills Association of India www.sram.co.in coking coal in the country, after the power sector. On the supply side, Coal India Ltd (CIL) achieved 99 percent in terms of actual supply (465.178 mt) against its estimated supply of 470 mt. The total indigenous supply of coal was to the tune of 570.23 mt (an achievement of 98.3 percent against estimates), of which 15.88 mt was comprised of coking coal and the rest by non-coking coal. Total imports of 137.56 mt raised the quantity of domestically available coal (coking+ non-coking) to 707.79mt, against domestic demand of 772.84mt. Details of sector wise demand, supply and availability of coal in 2012-13 is provided in the table below: Sector-wise Domestic Demand, Supply and Availability for Coal in 2012-13 (P) (in million) Sector Demand (BE) Indigenous Supply (Actuals) Import (Actual) Availability (Actual) Coking Coal Steel/Coke Ovens and cookeries (Indigenous) 22.3 15.88 15.88 Import 30.00 - 32.56 32.56 I. Sub-total Coking 52.30 15.88 32.56 48.44 Non-Coking Coal Power Utilities (Gen.Req.) 512.00 398.97 - 398.97 Captive Power 43.00 45.32 - 45.32 Steel DR 35.30 20.83 - 20.83 Cement 30.24 13.55 - 13.55 BRK & Others 100.00 75.68 - 75.68 II. Sub Total Non-Coking 720.54 554.35 105.00 659.35 Grand Total I + II 772.84 570.23 137.56 707.79 Source : Provisional Coal Statistics 2012-13, Ministry of Coal; (P) Provisional Imports - As per the present Import Policy, coal can be freely imported (under Open General Licence) by the consumers themselves, considering their needs and exercising their own commercial prudence. Coking coal is being imported by Steel Authority of India Limited (SAIL) and other steel sector manufacturing units mainly to bridge the gap between the requirement and indigenous availability and to improve the quality. Coal based power plants, cement plants, cement plants, captive power plants, sponge iron plants, industrial consumers and coal traders import non-coking coal. Coke is imported mainly by pig-iron manufacturers and iron and steel sector consumers using mini-blast furnace. Details of import of coal and coal products during the last five years are as under :- Coal Imports (in million tonnes) 2008-09 2009-10 2010-11 2011-12 2012-13 Coking Coal 21.08 24.69 19.48 31.80 32.557 Non Coking Coal 37.92 48.57 49.43 71.05 105.002 Coke 1.88 2.36 1.49 2.36 3.077 Total Import 60.88 75.62 70.4 105.21 140.64 Source : Provisional Coal Statistics 2012-13, Ministry of Coal Currently while import duty on coking coal is nil, import duty on non coking coal and Coke is 5 percent. [source JPC] TOP [29th Issue Steel Re Rolling Mills Association of India visit www.srma.co.in Page 9 SRMA STEEL NEWSLETTER SRMA Steel Re Rolling Mills Association of India www.sram.co.in Code of practice on safety and health in the iron and steel industry The original code of practice on safety and health in the iron and steel industry was adopted in 1981. The International Labour Organization (ILO), founded in 1919, became the first specialized agency of the United Nations (UN) in 1946. The main aims of the ILO are to promote rights at work, encourage decent employment opportunities, enhance social protection and strengthen dialogue on work-related issues. The newest version of this code, updated 2005, reflects the many changes in the industry, its workforce, the roles of the competent authorities, employers, workers and their organizations, and on the development of new International Labour instruments on occupational safety and health, focuses on the production of iron and steel and basic iron and steel products. According to Part II, Section 5.1 of the Safety and Health in the Iron and Steel Industry Code, the choice and the implementation of specific measures for preventing workplace injury and ill health in the workforce of the iron and steel industry depend on the recognition of the principal hazards, and the anticipated injuries and diseases, ill health and incidents. Below are the most common causes of injury and illness in the iron and steel industry: As you can see quite well, the importance of safety and safety training in the steel and iron industry. With hazards ranging from noise to physical to chemical to ergonomics, it is a inherently dangerous industry to work in. Specific PPE should include, but not be limited to: (a) molten metal resistant jackets and trousers; (b) face shields or vented goggles; (c) molten metal resistant gloves; (d) safety footwear insulated against heat; (e) respiratory protective equipment; (f) protective helmets; (g) hearing protection; and (h) eye protection. [Source ILO] TOP (i) slips, trips and falls on the same level; (ii) falls from height; (iii) unguarded machinery; (iv) falling objects; (v) engulfment; (vi) working in confined spaces; (vii) moving machinery, on-site transport, forklifts and cranes; (viii) exposure to controlled and uncontrolled energy sources; (ix) exposure to asbestos; (x) exposure to mineral wools and fibres; (xi) inhalable agents (gases, vapours, dusts and fumes); (xii) skin contact with chemicals (irritants (xiii) contact with hot metal; (xiv) fire and explosion; (xv) extreme temperatures; (xvi) radiation (non-ionizing, ionizing); (xvii) noise and vibration; (xviii) electrical burns and electric shock; (xix) manual handling and repetitive work; (xx) exposure to pathogens (e.g. legionella); (xxi) failures due to automation; (xxii) ergonomics; (xxiii) lack of OSH training; (xxiv) poor work organization; (xxv) inadequate accident prevention and inspection; (xxvi) inadequate emergency first-aid and rescue facilities; (xxvii) lack of medical facilities and social protection. [29th Issue Steel Re Rolling Mills Association of India visit www.srma.co.in Page 10 SRMA STEEL NEWSLETTER SRMA Steel Re Rolling Mills Association of India www.sram.co.in Adequate supply of manpower a challenge for steel industry: Report PTI Jun 11, 2014, 05.23PM IST Adequate supply of skilled labour could pose a big challenge for the steel industry which will need 2.85 lakh more such workers to treble the annual capacity to 300 million tonnes within 10-12 years. As per estimates by the domestic steel industry, as India increases its capacity from around 100 MT now, an additional 2.85 lakh workforce would be required, considering the productivity at 700 tonnes of crude steel produced per person, per year. There are a lot of challenges to be faced as India plans to raise capacity to 300 MT per annum. Apart from fund and equipment, getting adequate supply of manpower is a big problem," an official with a private firm said. The Indian steel industry employs around two lakh people at present, including around 97,000 by SAIL itself. Factoring that 15 per cent of total manpower in a steel plant are engineers, the state-run steel firm estimates that there would be an additional requirement of 43,000 engineers in the industry by 2024-25. Metallurgy might be a viable option for students as the steel industry would fill up to 30 per cent of its projected engineers' need from among metallurgists. "Taking into account the requirement for research and development an other supporting activities, there would be an additional requirement of around 15,000 metallurgists for the steel industry itself in next decade," SAIL Chairman C S Verma said. India has around 30 institutes which teach metallurgy at present. The total seats in these institutes is about 1,800. Finance Minister meets the NSDC Board Finance Minister Mr Pranab Mukherjee met the NSDC Board on September 22, 2009 in New Delhi, where he addressed them on his vision and expectations from the NSDC: In order to sustain a 9% growth rate in the Indian economy , it is imperative to generate sufficient and high quality skilled work force, with a quantum leap in both the skill development capacity and in the number of skills and trades in which training is being imparted. The Prime Ministers skill development mission aims to achieve the aforesaid objective. A private sector led skill development corporation is an integral part of the mission and the co-ordinated action plan for skill development, which was approved by the Union Cabinet in May, 2008. The vision, strategy and core principles of the skill development mission have been articulated clearly in the Prime Ministers Nation Council on Skill Development. The vision has four components, namely, massive ambition manifesting in creation of 500 million skilled people by 2022; high inclusivity; dynamic and self-healing adjustment process; and, focus on outcomes, consumer choice and competition. The strategy has six components, the most salient of which are that skills must be made fungible and bankable. The specific mandate of the corporation [NSDC] is to stimulate and coordinate private sector initiatives in the skill development sector, with a view to realizing the core vision of the Skill Development Council. TOP [29th Issue Steel Re Rolling Mills Association of India visit www.srma.co.in Page 11 SRMA STEEL NEWSLETTER SRMA Steel Re Rolling Mills Association of India www.sram.co.in TAXATION NEWS GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 29/2014-Customs New Delhi, the 25th September, 2014 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 12/2012-Customs, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 185(E), dated the 17th March, 2012, namely:- In the said notification,- (A) in the Table,- (i) against serial number 21, - (a) in column (2), for the figures 0713, the figures and word 0713 except 0713 20 00 shall be substituted; (b) in column (3), for the word Pulses, the words and brackets Pulses except chickpeas(garbanzos) shall be substituted; (ii) after serial number 21 and the entries relating thereto , the following serial number and the entries shall be inserted, namely:- 21A 0713 20 00 Chickpeas(garbanzos) Nil - -; (B) after the Table, in the proviso,- (i) in clause (a), for the figures, letters and words 1st day of October,2014, the figures, letters and words 1st day of April, 2015 shall be substituted; (ii) after clause (a), the following clause shall be inserted, namely,- (ab) the goods specified against serial number 21A of the said Table on or after the 1st day of January, 2015;. [F. No. 354/15/2010-TRU] (Pramod Kumar) Under Secretary to the Government of India http://www.taxmanagementindia.com/visitor/acts_rules_provisions.asp?ID=34http://www.taxmanagementindia.com/visitor/acts_rules_provisions.asp?ID=34[29th Issue Steel Re Rolling Mills Association of India visit www.srma.co.in Page 12 SRMA STEEL NEWSLETTER SRMA Steel Re Rolling Mills Association of India www.sram.co.in Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan Notification No. 92 (RE2013)/2009-2014 New Delhi, Dated : 26 September, 2014 Subject: Amendment in export policy of iron ore pellets manufactured by KIOCL. S.O.(E) In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992) read with Para 1.3 of the Foreign Trade Policy, 2009-2014, the Central Government, with immediate effect, hereby makes the following amendments in Sl. No. 104 of Chapter 26 of Schedule 2 of ITC(HS) Classification of Export and Import Items. 2. Existing entry S. No. Tariff Item HS Code Unit Item Description Export Policy Nature of Restriction 104 26011210 Kg Iron ore pellets manufactured by Kudremukh Iron Ore Company Limited STE Kudremukh Iron Ore Company Limited, Bangalore Amended entry: S.No. Tariff Item HS Code Unit Item Description Export Policy Nature of Restriction 104 26011210 Kg Iron ore pellets manufactured by KIOCL Limited Free Export by KIOCL Limited, Bangalore or any entity authorized by KIOCL Limited, Bangalore 3. Effect of this notification: KIOCL Limited (formerly known as Kudremukh Iron Ore Company Limited) has been permitted to export its own manufactured iron ore pellets either by itself or through any entity authorized by them for the purpose. (Pravir Kumar) Director General of Foreign Trade E-mail: dgft[at]nic[dot]in TOP http://www.taxmanagementindia.com/visitor/acts_rules_provisions.asp?ID=525http://www.taxmanagementindia.com/visitor/Acts_Rules.asp?Law=13&Act_Type=41[29th Issue Steel Re Rolling Mills Association of India visit www.srma.co.in Page 13 SRMA STEEL NEWSLETTER SRMA Steel Re Rolling Mills Association of India www.sram.co.in EVENTS From 28-30 October 2014, Messe Duesseldorf India with its parent company, Messe Duesseldorf GmbH {organiser of wire and TUBE Duesseldorf, GIFA, METEC, THERMPROCESS and NEWCAST (GMTN)} and MESSE ESSEN GmbH (organiser of Schweissen & Schneiden), will organise 4 leading trade fairs for the metals industry in India. They are Metallurgy India 2014, Wire & Cable India 2014, Tube India International 2014 and INDIA ESSEN WELDING & CUTTING 2014 in halls 1, 5 and 6 at the Bombay Convention & Exhibition Center, Goregaon (East), Mumbai. Middle East Steel Conference(MESC) 2014 Date : 21st 23rd October, 2014 Venue : Inter Continental, Festival City, Dubai, UAE Metallurgy India 2014 Date: 28 - 30 October 2014 Location: Bombay Exhibition Centre, NSE Exhibition Complex, Mumbai, India. Organised by Messe Dusseldorf India Pvt. 5th International Exhibition & Conference on Metallurgical Technology, Material Handling and Services For further information, www.metallurgy-india.com 18th Middle East Iron and Steel Conference 8 - 10 December 2014 Atlantis, The Palm Dubai, U.A.E With over 750 delegates expected, this is the premier event for all iron and steel professionals in the Middle East. This event will be returning... TOP http://www.metallurgy-india.com/[29th Issue Steel Re Rolling Mills Association of India visit www.srma.co.in Page 14 SRMA STEEL NEWSLETTER SRMA Steel Re Rolling Mills Association of India www.sram.co.in STEEL NEWS Stagnant steel demand scenario in India coming to an end - SAIL Chairman (Follow @steelguru on Twitter for important updates) Business Standard reported that Mr CS Verma chairman of SAIL said that the stagnant demand scenario of the Indian steel sector is likely to come to an end with the new government putting thrust on areas like manufacturing and infrastructure. Mr Verma said that "We witnessed another year of sub 5% GDP growth in fiscal 2013-14. However, a new era of hope, change and confidence has dawned on the country." He said The signs of change to come were already reflected in the General Budget presented by new government with announcement of initiatives such as opening up of more sectors for Foreign Direct Investment, plans to accelerate growth in manufacturing and facilitating investments. He added Besides, the government has its focus on infrastructure like development of smart cities, ports, power plants, plan for doubling the pipeline grid, metro for tier-II cities, industrial corridors, incentives for housing and revival of Special Economic Zones. He said that "These initiatives augur very well for the Indian steel industry, and we are confident that good growth would be witnessed in domestic steel consumption in the coming years, bringing an end to the stagnant demand scenario." India's steel consumption grew by just 0.6% last fiscal, its lowest in 4 years, to 73.93 million tonnes, mainly impacted by a slower expansion of domestic economy. This was due to subdued demand from two major consuming sectors - construction and automobile. Construction sector accounts for around 60% of the country's total steel demand and automobile industry consumes 15%. Both the sectors were plagued by slowdown in the economy. Source Business Standard Get latest updates through Twitter Follow @steelguru (www.steelguru.com) NMDC to invest INR 898 crore to expand mining iron ore in Bellary (Follow @steelguru on Twitter for important updates) Deccan Herald reported that National Mineral Development Corporation is all set to expand its activities in Bellary district by investing INR 898 crore in mining 167.63 hectares for iron ore reserves in the Kumaraswamy forest range in Sandur. The NMDC has a valid mining lease area for 647.5 ha in the Kumaraswamy forest range of Bellary-Hospet iron ore belt. Of this, 155.17 ha is revenue area and the remaining 492.33 ha forest area. The company received the permit from the Indian Bureau of Mines on June 18th this year for mining in the entire area. The NMDCs subsidiary, Kumaraswamy Iron Ore Mines, will implement the new project. The capacity would be 7 million tonnes per annum. The entire project is being executed through six packages and is to be completed this financial year. However, the Ministry of Environment and Forests is yet to clear the project. This expanded business, along with its existing mining lease, would help the NMDC reach the target of 12 million tonnes per annum in Karnataka and 50 million tonnes per annum in the country. The NMDChas been mining in Karnataka for many years and its mining pits fall under A category, meaning there is no violation of government norms during mining activities. T According to the company, the project will create direct 1,000 jobs and as many indirectly. http://www.steelguru.com/[29th Issue Steel Re Rolling Mills Association of India visit www.srma.co.in Page 15 SRMA STEEL NEWSLETTER SRMA Steel Re Rolling Mills Association of India www.sram.co.in Source - DHNS Get latest updates through Twitter Follow @steelguru (www.steelguru.com) CII Steel summit highlights raw material security for Indian steel sector growth (Follow @steelguru on Twitter for important updates) Mr Vishnu Deo Sai, the Minister of State for Stee, said that a new Steel Policy is on the anvil to facilitate the steel industry in increasing production to 300 MTPA by 2025, up from the present 81.2 MPTA. The new policy is likely to focus on capacity addition and address issues related to raw material security, environmental challenges and land acquisition. Mr Deo Sai said that discussions are already taking place on the establishment of an eastern corridor to address freight and other logistics issues faced by the industry. There should also be a national body to supervise and undertake research in the steel sector. Mr Ajay Shriram. President, CII, and chairman & Senior Managing Director, DCM Shriram Limited, said that the demand for steel is bound to accelerate with India building much needed infrastructure. To develop a roadmap, he suggested creating a joint task force with industry and ministry as partners to bring in all diverse stakeholders together for an action agenda for the sector. Mr Rakesh Singh, Steel Secretary, said that the governments effort to increase the share of manufacturing in GDP from 16% to 25% put great responsibility on the steel sector. To encourage greenfield units, he said that discussions were on regarding SPVs in association with the state governments. These SPVs would ensure raw material linkages and clearances for the project, and then be auctioned or sold to the private sector through appropriate mechanisms. Mr CS Verma, chairman, CII National Committee on Steel and chairman, SAIL, set the tone for the discussions by outlining the various challenges hindering the steel industry from realizing its potential. He highlighted the unavailability of raw materials, high cost of logistics, human resource gaps and low R&D spend. He also pointed to the need to review FTAs especially for CEPA and dumping by China under the guise of alloy steel. Welcoming the governments Make in India initiative, Mr Sajjan Jindal, Chairman & Managing Director, JSW Steel Limited, spoke of the need for closer coordination between various stakeholders so that the Indian steel industry could realize its potential. Since steel is a base industry, the effort must be taken as a mission by all. In addition to the various challenges outlined by previous speakers, Mr Naveen Jindal, chairman, Jindal Steel & Power Limited, said that steel was still very expensive for the common man and as a result, per capita consumption has been almost stagnant. For costs to fall, output must increase. To increase output and meet the goal of 300 MTPA by 2025, government support and favourable policies were essential. Source - Strategic Research Institute, Steel Guru Get latest updates through Twitter Follow @steelguru (www.steelguru.com) TOP http://www.steelguru.com/http://www.steelguru.com/The story of the modern steel industry began in the late 1850s and has really been going through major changes since 1970. It has often been considered to be an indicator of a country's economic progress, due to steel's critical role in infrastructura...The original code of practice on safety and health in the iron and steel industry was adopted in 1981. The International Labour Organization (ILO), founded in 1919, became the first specialized agency of the United Nations (UN) in 1946. The main aims ...Finance Minister meets the NSDC BoardMetallurgy India 201418th Middle East Iron and Steel Conference

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