Overseas Investment in Steel Sector

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..... Overseas Investment in Steel Sector
News and Press Release
Dated:- 14-5-2012

Press Information Bureau Government of India Ministry of Steel 14-May-2012 14:23 IST The Minister of Steel, Shri Beni Prasad Verma has said that there is a net increase in foreign direct investment inflows into the country in the metallurgical sector, including steel sector, during the last three financ .....

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..... ial years. The details are given below: Year Amount of FDI inflows * In Rs. Crores In US$ Million 2009 - 10 1,999.30 419.88 2010 - 11 5,023.34 1098.14 2011 - 12 8,242.42 1,765.07 (*Source: Department of Industrial Policy & Promotion, Ministry of Commerce) Following are the major investments proposed by foreign steel producers in the Indian steel industry in the last three years: Pr .....

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..... oposals to set up steel plants in India* Producer Proposed State Proposed Annual Capacity Proposed Investment (Rs. Cr.) Posco Orissa 12 mtpa 52,000 Posco Karnataka 6 mtpa 32,000 Arcelor-Mittal Orissa 12 mtpa 40,000 Arcelor-Mittal Jharkhand 12 mtpa 50,000 Arcelor-Mittal Karnataka 6 mtpa 30,000 NMDC-Severstal Karnataka 3 mtpa Both will jointly invest Rs. 9,000 crore Ta .....

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..... ta Steel-Nippon Steel Jharkhand 60,000 tonnes 2300 (*Source: Joint Plant Committee) * In a written reply in the Lok Sabha today Shri Verma said, in addition to these, the following are some of the major investments made by foreign investors in the Indian steel industry: * Acquisition of 14.99 per cent stake in JSW Steel Ltd. by JFE Holdings of Japan. * Acquisition of 29 per cent stake in .....

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..... Uttam Galva Steels Ltd. by Arcelor-Mittal. The Minister said, in order to monitor and coordinate various issues concerning major steel investments in the country, an Inter-Ministerial Group (IMG) has been constituted. Inter Ministerial Group (IMG) on steel sector is a forum to coordinate, monitor and review issues affecting major steel sector investments. The individual issues raised during the .....

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..... IMG meetings are further dealt by the concerned Ministries/Departments and State Governments in accordance with the provision of the extant rules and policies. *** NSK/DB
News - Press release - PIB .....

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