Hyderabad

Rs.200 cr fund to promote research in steel sector

A Rs.200-crore corpus has been created to fund the activities of Steel Research Technology Mission of India (SRTMI) for promoting research in iron and steel sectors and turn the country into a metallurgical hub.

Stating this while addressing a national seminar on “Processing and Applications of Advanced Metallic Materials” here on Thursday, President Indian Institute of Metals and Steel Authority of India Director (Technical) S.S. Mohanty, said that while Rs.100 crore was provided by the Government of India, the remaining half was contributed by the steel producing companies.

He said the SRTMI would start functioning from Delhi in a couple of months. Referring to import of advanced materials to meet some of the requirements in the defence sector, he said the time had come for zero-dependence on imports from other countries. For the first time, the entire steel requirement of 40,000 tonnes for indigenous aircraft carrier, INS Vikrant was being produced in the country by the SAIL and other Indian companies.

MIDHANI Ltd. Chairman and Managing Director M. Narayana Rao said that the MIDHANI and Bhadravati Steel Plant propose to work together to synergise their strengths. He said that specialised steel would be produced at Bhadravati and processed at the MIDHANI. He said CRGO (Cold-Rolled Grain-Oriented) steel was currently being imported and plans were afoot to produce it in the country.

National Mineral Development Corporation Limited Chairman and Managing Director Narendra Kothari called for making available advanced metallic materials at reasonable prices to replace imports and ensure the success of ‘Make in India’ programme.


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Printable version | Jan 18, 2022 3:13:06 AM | https://www.thehindu.com/news/cities/Hyderabad/corpus-of-rs200-cr-created-to-fund-to-promote-research-in-steel-sector/article7561800.ece

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