The Society of Geoscientists & Allied Technologists (SGAT), an association of geoscientists, believes that the country’s steel production target would be revised in view of the global meltdown.
“Several projections have been made. One of those says 217 million tonne will be produced during 2019-20. These forecasts have to be revised considering the meltdown in the global economy”, the SGAT has said. “The production target of over 200m tonne during 2019-20 will appear unattainable”, said SGAT general secretary MV Rao.
Speakers at Iron Ore?Genesis and Exploration Techniques, a seminar organised by the SGAT here on Friday, also expressed their apprehension about achieving the steel production target.
Orissa steel & mines minister Pradeep Kumar Amat said the global meltdown has cast its shadow over the steel sector. The pace and progress of investment envisaged for setting up new iron and steel making facilities and augmentation of the existing ones have slowed down. According to him, the Mumbai holocaust is going to aggravate the situation further.
While the Centre expects that the production will go up to 124m tonne by 2011-12 and 243m tonne by 2020, the Indian Council for Research on International Economic Relations has given a growth projection of 108m tonne by 2011-12 and 217m tonne by 2019-20.
As many as 16 papers were presented at the seminar, which was attended by over 160 delegates from across the country.