The Hindu : Business : Steel makers will get inputs at reasonable rates

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Steel makers will get inputs at reasonable rates

Special Correspondent

— PHOTO: S. SUBRAMANIUM

CHALLENGES AHEAD: Pramod Kumar Rastogi (centre), Secretary, Ministry of Steel, with Sajjan Jindal (right), President, Assocham, and R. S. Roongta, Chairman, SAIL, at the second India Steel Summit in New Delhi on Friday.

NEW DELHI: The Union Steel Ministry on Friday said it would ensure availability of adequate inputs for steel producers in a bid to ensure that the manufacturers do not raise steel prices.

Addressing a steel summit organised by the Associated Chambers of Commerce and Industry of India (Assocham) here on Friday, Steel Secretary Pramod Kumar Rastogi said the Ministry would shortly be organising a dialogue process with steel manufacturers to formally assure them availability of inputs like iron ore at affordable prices to help them maintain the present price levels.

Since raw materials and input costs for making steel had risen steeply in the past and steel manufacturers had given the government a categorical assurance that they would not resort to price rise, the Government would like to cooperate with them in terms of making available inputs at affordable rates, said Mr. Rastogi.

Speaking on the occasion, S. K. Roongta, Chairman, Steel Authority of India, said the steel sector was facing multiple challenges that included higher input costs and at the same time, taking on challenges of capacity expansion. In his welcome address, Assocham President Sajjan Jindal said that as far as JSW was concerned, it would try its best to adhere to its capacity expansion plans and also those plans for putting up new projects in States like Jharkhand, Orissa and Chhattisgarh.

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