According to data available on the website of World Steel Organisation, only eight steelmakers produced over 20 million tonne (mt) steel in 2009 with ArcelorMittal, leading at 77.5 mt.
Tata Steel, including Tata Steel Europe was seventh with 20.5 mt production.
Essar is currently at 14 mt, and has drawn up plans to be a 25-mt steelmaker.
"The visibility of steel is now based on raw materials. Zisco is going to be an integrated steel company with iron ore, coal, steel and distribution, all at one place.
"And it is only in Africa that you will get everything together," said Malay Mukherjee, chief executive officer, Essar Steel, while speaking to Business Standard.
Even though the iron ore and coal reserves are still being assessed, most analysts say there is enough and more for Essar's own requirements.
And it is due to these natural reserves that Zisco saw competing bids from global steel giants, including ArcelorMittal.
The Zimbabwean steelmaker has only a one mt steel plant, which Essar plans to revive and then expand.
Last week, the employees of Zisco were paid their first wages in two years.
Mukherjee said, "We have signed the agreement and the condition precedent of the deals are getting fulfilled."
Mukherjee doesn't think the odds will be stacked against him.
"When we began our Gujarat operations, nobody thought Hazira will be a 10-mt plant either," he explained.
However, even for Essar, home is where the money is.
In the next three years, it will a key source of revenue for Essar Steel with its flagship steel plant at Hazira, Gujarat, becoming 10 mt at the end of 2012.
Algoma -- Essar's four-mt Canadian subsidiary -- is also getting fully integrated with Minnesota iron ore mines and Trinity Coal coming on full stream.
After that, Algoma will be second most important revenue-earner. Indonesia -- where the company has a small steel mill operation -- will follow and finally, there will be Zisco.
By 2016, the pattern will change.
"If you look at the investments, then Zisco will be a priority because in India, we will have already finished our investment cycle and it will be time to get results."
So, Zisco will eventually overshadow Algoma.
Essar had signed up numerous MoUs with Jharkhand, Chhattisgarh, Orissa and Karnataka for setting up steel plants but it was the acquisition of Zisco that made it redraw its production strategy.
Mukherjee said, "The 25-mt vision came after we got Zisco. There are
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