India's steel industry is surging ahead, entering into global deals and taking the country's economy to new heights. The Indian government plans to invest over $350 billion in steel industries related to infrastructure and construction.
The Indian government estimates that steel production would grow at a CAGR of 16 per cent to touch 124.06 MT by 2011-12. India's steel production capacity is estimated to be 200 MT by 2020.
Following are some of the major steel sector plans currently in underway in India and abroad:
- Arcelor Mittal, the world's largest steelmaker, plans to set up two greenfield steel projects in India each with a capacity of 12 million ton per annum (MTPA).
- Acerinox SA, the world's 2nd biggest stainless steelmaker, is joining hands with Japan's Nisshin Steel to build a steel plant in India.
- Tata Steel, the world's fifth largest steel maker, plans to double its capacity by 2015, by adding another 35 MT capacity.
- India's largest steel manufacturer SAIL is planning to increase its annual production of 12 MTPA to 24.98 MTPA by 2011-12.
- Sinosteel Corp, China's 2nd biggest iron ore trader, plans to invest $4 billion to build a 5 MT greenfield steel plant.
- Kalyani Steels will set up an integrated steel and power project in West Bengal, at a cost of $1.63 billion.
- $365.7 million investment coming in steel is coming up in Karnataka.
- Mesco Steel plans to invest around $2.8 billion in two steel plants -- a brownfield expansion and the other a greenfield project -- in Orissa.
- Vedanta Resources plans to enter the Indian steel sector with a 5 MT plant at an investment of about $6.02 billion in Orissa.
- State-owned Steel Authority of India Ltd (SAIL) will invest $5.006 billion in West Bengal. This is almost two-fifths of the $13.27 billion spread planned by SAIL.
- Tata Steel has acquired the Anglo-Dutch steelmaker Corus to become the world's 5th largest steelmaker, adding 19 MT of steel-making capacity.
- Essar Global has acquired Canada's Algoma Steel for $1.63 billion and US-based Minnesota Steel.
- Naveen Jindal-promoted Jindal Steel & Power Ltd (JSPL) has bagged the $2.1 billion contract for developing one of the world's largest iron ore deposits, El Mutun. The project includes a 2 MT steel plant in Bolivia.
- JSW Steel has acquired Jindal United Steel Corporation, Saw Pipes USA and Jindal Enterprises LLC at Baytown, Texas, for $940 million.
- India's Steel Strips Wheels Ltd. has received an order from French car maker Renault SA worth $27.56 million to supply around 1 million steel wheel rims for over 5 years.