Federal government has looked for a roadmap for minimizing cost of production of steel in 6 monthsSteel Minister Ram Chandra Prasad Singh has actually asked state-owned entities in the sector to prepare a roadmap to chart out cost reduction in steel in the next 6 months.Addressing Steel Ministry authorities and agents of the steel public sector entities, Mr Singh asked to check out ways to reduce the expense of coking coal, which is the key commodity required for steel production and is a major expense element.Coking coal, which is mostly imported, is quite pricey and contributes to the rate of finished steel.
On being notified about this element, the minister stated that decrease in steel production expense should be undertaken through measures like boost in pellets use and pulverised coal injection.Pulverised coal injection is a procedure which involves blowing large volumes of fine coal granules in to the blast furnace.The minister further notified the authorities that all these steps would be evaluated on a regular monthly basis through a devoted steel control panel.