India Steel Companies: Modern steelmaking in India began in 1907 when Tata Iron and Steel Company (now called Tata Steel and listed on the Bombay Stock Exchange) was registered, followed by Indian Iron and Steel Company (IISCO) in 1918 and Mysore Iron and Steel Works (MISW) in 1921. As of 2008, India is the world’s fifth largest producer of crude steel, growing at the rate of 12 per cent annually. Tata Steel bought Anglo-Dutch Corus in 2008 and is now the world’s lowest cost producer of steel.
The public sector in India plays a strong role in steel making via the Steel Authority of India (SAIL) which consists of the three steel plants of Hindustan Steel Limited (HSL) at Rourkela (1.8 million ton capacity), Bhilai (2.5 million tons capacity) and Durgapur (1.6 million tons capacity).
Steel exports from India have increased by 6 per cent in 2007 over the previous year. Also, in the last three years, India’s own consumption of steel has grown by 12 per cent annually. A Credit Suisse Group study states that India’s steel consumption will continue to grow by 16 per cent annually until 2012, fueled by demand for construction projects.
Today, other Indian steel producers are spreading all over the globe to expand steel production.
- Essar Global acquired Canada’s Algoma Steel and US-based Minnesota Steel.
- JSW Steel acquired Jindal United Steel Corporation, Saw Pipes USA and Jindal Enterprises LLC at Baytown, Texas, for $940 million.
Other Companies..
- Bhilai Steel Plant (BSP)
- Bokaro Steel Plant (BSL)
- Durgapur Steel Plant (DSP)
- Jindal Vijayanagar Steel Limited
- Lloyds SteeI Industries Ltd
- North Bengal Dolomite Limited
- Romelt-SAIL (India) Ltd
- Rourkela Steel Plant (RSP)
- Salem Steel Plant (SSP)
- Steel Authority of India (SAIL)
- Tata Iron and Steel Co Ltd (TISCO)
