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 financial 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:
Proposals 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
|
Tata
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 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 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