India Steel Production to Exceed Demand by 2011-12

BANGALORE, INDIA--July 1, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Statistics reveal that steel production in India is growing at an annual rate of just over 6%, while steel demand within India has been increasing nearly 13% per year. To bridge the gap between supply and demand, the government has announced plans to increase domestic production capacity to over 290 million tons per year by 2020, with a cumulative investment of nearly $218 billion. Domestic players in the public and private sectors, including Ispat Industries Limited (BOM:500305) (Mumbai), JSW Steel Limited (BOM:500228) (Mumbai), Jindal Steel & Power Limited (BOM:532286) (New Delhi), and Tata Steel Limited (BOM:500470) (Jamshedpur, Jharkhand), are focused on increasing their existing production capacities. Steel Authority of India Limited (BOM:500113) (New Delhi), a public sector undertaking and the country's largest integrated producer of iron and steel, plans to ramp up its production capacity of hot metal from the current 12.84 million tons per year to 26.13 million tons by 2010.