Millennium Post

Beni Prasad asks firms to expand abroad

Steel Minister Beni Prasad Verma on Wednesday asked Indian firms to join hands with overseas partners for adding value to the raw material and acquiring assets abroad.

‘For achieving growth in the Indian steel industry it is important to have raw material security. This would include optimum resource utilisation and securing raw material sources abroad,’ Verma said at the World Steel Conference here.

‘Global strategic partnerships will play an important role in achieving this,’ he added.

India has a sizeable quantity of iron ore fines, which at present are not being fully utilised for want of suitable beneficiation and pelletisation technologies.

‘We plan to use modern techniques of beneficiation and pelletisation for adding value to our iron ore and also for optimum utilisation of our mineral resources,’ Verma added.

Stating that Indian steel industry is dependent largely on imported coking coal, he said it was important to maximise the usage of indigenous coking coal by adopting latest coal washing technologies.
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