SAIL enters 100 most-valued Indian firms list
The stock of SAIL increased to a nine year high of Rs 135.60 on the BSE. In the last six weeks, the stocks of SAIL has increased by 85%. It has entered the hundred most valued Indian firms list.
SAIL
SAIL is Steel Authority of Indian Limited. It operates under Ministry of Steel. The annual turn over of SAIL is around 10 billion USD.
It has five large integrated steel plants. They are Rourkela steel plant, Bhillai Steel plant, Durgapur steel plant, IISCO and Bokaro Steel plant. These plants are spread in four states namely Odisha, Chattisgarh, West Bengal and Jharkhand. Also, it has three special steel plants namely Visvesvarya iron and steel plant, Salem Steel plant, Alloy steel plant and Ferri Alloy plant at Chandrapur.
National Steel Policy
It was approved by the union cabinet in 2017. Under the policy, the GoI aims to attain steel production of 300 million tonnes by 2030. The following are the main objectives of National Steel Policy. They are as follows:
- To increase per capita steel consumption to 160 kg by 2030-31. Currently it is at 69 kg.
- To become a net exporter of steel by 2025-26
- To increase domestic availability of coking coal. This is being done to reduce the import of coking coal to 50% by 2030.
Background
China is the world largest steel producer of crude steel. More than 51% of the world steel production is from China. India became the second largest steel producer in the world overtaking Japan in 2019. The other top producers of steel are Russia, USA, South Korea, Brazil and Germany.
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Month: Current Affairs - May, 2021