Whats about steel production? Why have many companies delayed their projects?
A – Steel companies have signed 225 MoU with different state governments, and projects are at various stages now. If you add all, it’s an investment of 1100,000 crores. Yes, steel production has seen a little setback because of the global recession, but we will still be able to maintain our target of steel production of 100 million tonnes by 2012. It was a downward estimate as we increased the target to 124 million tonnes after seeing high consumption in 2007. So far as individual projects are concerned, more of Brownfield projects are happening now. The economic slowdown had some impact on rolling out of three major Greenfield projects to be executed by ArcelorMittal and POSCO in Jharkhand and Orissa. The expected investment in these areas is about INR 130,000 crores. We hope, problems related to these projects will be sorted out soon.
