The Minister is also scheduled to meet Luxembourg Minister of Economy and Foreign Trade and visit the plants of Arcelor and Corus in Holland.
The visit aims to have first hand familarisation with the modern European steel plants as well as a look at the technological options available in these countries. It also assumes significance in view of the expansion plans of Indian steel companies.
Public sector companies including Steel Authority of India (SAIL) and Rashtriya Ispat Nigam Ltd (RINL) have commenced the implementation of capacity extension programmes with projected investment of around Rs 45,000 crore. The projects have to be implemented on a fast-track basis, utilising the best possible global technology and project implementation strategies.
A ministry of Steel statement issued today said, since these companies are facing global competition, they also have to reform and refine their product strategies by movig over from the production of semi-finished steel goods to product differentiation and value addition, ensuring a fair share of the global market.
The visit will greatly help im meeting these objectives, it added.
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