We'll support you, Govt assures raw material crunch-hit ferro alloy firms
New Delhi The government Thursday assured domestic ferro alloy producers of taking steps to address their concerns of unavailability of raw materials and high prices of power.
Speaking at '2018 International Ferro Alloys Conference' here, Steel Minister Chaudhary Birender Singh said measures will be taken to resolve these issues.
Ferro alloy producers are grappling with raw material shortage and high prices of power, said Manish Sarda, Chairman, Indian Ferro Alloy Producers Association (IFAPA).
He urged the steel minister to ensure availability of manganese ore and address the issue of high cost of power, which contributes 50 per cent to the total production cost.
"Ferro alloy is an additive to finished steel to provide strength, hardness, anti-corrosive properties etc. Raw materials for it are manganese ore, chrome ore and coke," said Manish Mishra, Marketing Head, Sarda Energy and Minerals.
Indian Ferro Alloy Producers Association Chairman further said the country does not have abundant raw materials for ferro alloy and the players are importing it from countries like Australia and South Africa at higher prices. India has an installed capacity of producing 5 million tonne per annum of ferro alloy.