T V Narendran, managing director, Tata Steel India and SEA on Wednesday said that the rising iron ore import from China is a major challenge not only for Tata Steel but for the Indian steel industry as a whole. Addressing the Press conference after the production results of the steel company for the year FY 15 were declared, he said that the import from China is surging. The iron ore import from China has doubled in a year and it is challenge for the company to maintain cost. last year China exported about 92 MT of steel while in India import from China has doubled.
He went on to add that its iron ore costs in India surged as it imported more raw materials to fill a gap created by the closing of one if its biggest mines. He said that today during the PM’s Trophy Award function held a Rourkela, the Steel industry delegation expressed their apprehensions over rising import from China to Union Steel Minister Narendra Singh Tomar demanded a check on the rising import.
Narendran reiterated that it is committed to implement two major infrastructure projects comprising Eastern-West corridors. “We are committed towards implementing these projects to ensure better transportation and communication. It may be mentioned that in view of the expansion plans of Tata Steel and other Tata Group companies in Jamshedpur, Tata Steel limited had engaged reputed Consultant M/s l & T Rambole and M/s Consulting Engineering Services of Delhi to do a transport study of Jamshedpur.
The study recommended construction of two corridors, the Eastern Corridor and the Western Corridor along with bridges on river Subernarekha and river Kharkai. To decongest the city roads further, it recommended increasing the width of the city roads, strengthening the sub-grade of roads, building new roads and parking areas in major markets such as Bistupur, Kadma and Sakchi. Addressing the media, Narendran said that in the FY 16 the company will focus on infrastructure development and safety. Present on the occasion, Sunil Bhaskaran, vice president, corporate services, Tata Steel, said that the work on Eastern Corridor is marching ahead and it is expected to start this financial year.