'Govt should reduce excise on steel, not squeeze producers'

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: have completed that integrated steel project, with a capacity of 0.4 mt, ahead of schedule.

Today, we are not just a TMT manufacturer—we are in steel, cement, power and hydro. In steel capacity, as a group, we are one of the largest if we combine the Bengal and Orissa facilities. Our total capacity today is less than 1 mt. This will increase to 1.5 mt within the next three years.

When did cement come?

We ventured into the cement business with Century Ply in 2003-04 with a plant in Meghalaya in the northeast. Meghalaya has limestone deposits. Today, we have a 20% marketshare in the northeast, which is the single-largest share.

What are your plans now?

We are now aiming to increase our captive generation capacity from 100 mw to 300 mw by 2009. We are adding another 0.5 mt of steelmaking facility at Jamuriah near Asansol.

What are your plans in power?

We have started work on a 1,000 mw power plant in Chhattisgarh, near Korba. Land acquisition is going on. This will be an independent power plant. We are trying to acquire some mines abroad. We are at an advanced stage of negotiations, so I would not like to discuss the details. We already have a coal block in Orissa for our plant there, but the Bengal plant is suffering for want of a coal block. I must say the Bengal government is making all efforts to help us.

What are your views on attempts to control steel prices?

These are all bogus. The government needs to be realistic. When we talk of a proper steel price, we should talk of regulatory control to lock the value of the raw materials, which is now missing.

Do you have an advantage over others in terms of input costs?

Yes, today we are the cheapest producer of steel. We are in one of the most suitable belts in Bengal, logistically, with an integrated steel plant. Power constitutes one of the major costs, and we’ve captive generation. We are a well-established player and our technology upgradation is continuous. We are using the latest technologies, both in power and steel.

Some foundry units feel the Indian government should ask China to give us good quality coking coal because we sell them iron ore…