ICRA Expects Indian Crude Steel Capacity to Touch 150MT by Mar’22

India’s steel sector continues to grow in 2021 as new steel plants are being commissioned. According to a recent report by Indian credit ratings agency ICRA Ratings, India’s total steel capacity in the fiscal year ending March 2022 will likely rise to 150 million tonnes a year. ICRA has factored in capacity additions during the year, including a brownfield expansion by JSW Steel’s Dolvi unit in Maharashtra.

Acording to earlier media reports about 14.5 million tonne steel capacities are being setup

NMDC Nagarnagar - 3.0 million tonne

JSW Torunglu - 1.0 million tonne

JSW Dolvi - 5.7 million tonne

Tata Steel Kalinganagar - 5.0 million tonne

Vedanta Bokaro - 1.0 million tonne

According to India’s Stee Ministry update “Capacity for India’s domestic crude steel production expanded from 109.85 million tonnes per annum in 2014-15 to 142.24 million tonnes per annum in 2018-19, at Compounded Annual Growth Rate of 6.8% during this five-year period.”