7 Sep 2012

Nationalization of Steel Plants

The Minister of Steel, Shri Beni Prasad Verma has said that Steel is a de-regulated sector. As such no permission is required from the Ministry of Steel for installation of private steel plants in the country. Main private sector steel companies 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 he 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. During 2011-12 production of crude steel from all steel plants including private steel plants has been 73.79* million tonne (*Provisional as per JPC). 
There is no proposal to take over any private sector steel plants by the Central Government, Shri Verma added.

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