7 Sep 2012

License to Private Companies to Establish Steel Factory

The Minister of Steel, Shri Beni Prasad Verma has said that Steel is a de-regulated sector. As such no license is required from the Ministry of Steel for installation of a steel factory in the country. Main private steel producers include TATA Steel, Essar Steel, Jindal Steel & Power, JSW Steel, Bhushan Power & Steel, Bhushan Steel etc. 
In a written reply in the Rajya Sabha today Shri Verma said, there are several medium and small steel units in the country including mini blast furnace, sponge iron units, induction furnace units and rolling mills. Total number of such units is approximately 3647, as per the last survey conducted by Joint Plants Committee in 2009-10. About 77.5% steel is produced by the private sector steel companies. The information about loans given by the Public Sector Banks to private steel companies is not maintained by the Ministry of Steel. 

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