Consultancy firm Ernst & Young said India continues to be an attractive investment decision for major global steel manufacturers notwithstanding the fact that so many proposals are yet to take off.
Ernst & Young said that "India's iron ore resources and its surplus production are significant strengths that have not been fully leveraged by the steel industry. This strategic advantage, coupled with expected demand growth, makes it an attractive investment destination for global majors.”
It added that "However, success has eluded most of them, with little progress on implementation of most Greenfield plants. Despite this, India continues to be on the radar of most of the global players for retaining growth.”
Ernst & Young said that "Indian steel sector needs to address its own challenges and opportunities, some of which are unique to the country. While issues around social licenses to operate and growing resource nationalism are visible in most developing economies, their impact on the growth of the Indian steel sector is more profound at current times.”
The consultancy firm also said despite weak cues from the global economy, India's steel consumption may be better than others in the current year as demand from infrastructure and consumer durables grow.
It said that "Crude steel capacity is also expected to increase in the next two-three years as large expansion projects are commissioned.”
(Sourced from NDTV Profit)
The history of global steel sector evolution in last 5 decades has clearly outlined that investment in steel capacity move to the region where the demand is growing. With the projected growth of almost 10% in economy, India is likely to see one of the most promising growth scenarios in steel consumption making it the right place for investments in steel sector for capacity addition.
While Indian steel sector has few giants, followed by handful of mid sized players but the largest chunk comes from small sized companies. Their respective aspiration levels very to a great extant. While giants and mid sized players talk in millions of tonnes, aspirations of smaller companies are well below a million tonne.
Another unique character surrounding Indian steel sector is the degree of de-fragmentation, which makes exchange of information quite difficult for technology providers to reach them or vice versa steel makers to know what all is available to fulfill their dreams of expansions.
Against this backdrop, SteelGuru in association with SteelGroup have decided to organize mega gathering of equipment & technology suppliers and key people from Indian steel makers on 16th & 17th April, 2012, Hotel Leela Kempinski, Gurgaon, Delhi NCR
Conclave Focus
1. Showcasing various technologies and equipment for all areas of steel making and processing
2. High end to low end options
3. Life cycle analysis of investments
4. Alternate and green technologies
5. Old equipment
Who should attend?
1. Steel makers and processors
2. Equipment and technology suppliers to steel industry
3. Other suppliers
4. Project consultants
5. Investors
6. Analysts
To know more about the event and register
http://www.globalbusinessconnect.org/Steel_Technology_Conclave_2012/6
Or send a mail to events@steelguru.com
Call - Board +91 124 4048993 (Monday to Friday - 9AM to 5PM)
Call - Ms Abhilasha at +91 9810771293
