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‘Hiking import duty on steel to 10% may not be unjustified’

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  • While you want behemoths like SAIL to undertake time-bound capacity expansion, there is also a case for ensuring their raw material security. SAIL, for example, is seeking the Chiria mines and RINL has no access to captive mines. What do you say?

    Well on the Chiria issue I say that SAIL should get it within two months. I am going to write to the Jharkhand governor, seeking his intervention on the matter. The state government has finally agreed to transfer the ownership of the mine in the name of SAIL from IISCO Steel Plant. As far as RINL is concerned, we are trying for a strategic partnership between it and Nilachal Ispat Nigam Limited. If that happens then the Vizag-based PSU will no longer starve due to raw material insecurity.

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