There has been an overall rise of steel production globally owing to its surging demand in construction, machinery building and automobile manufacturing. The global crude steel production was pegged at 1518 million tonnes (mt) in the year 2011, with China remaining the largest producer. India occupied the fourth position in the world among the largest crude steel manufacturers. The per capita consumption of steel remained at around 59 kgs in the same year. The flourish of the industry in the country can be attributed mainly to the availability of cheap labor and raw material. No wonder some of the worldâ€™s biggest steel producers have their base here. Let us find out about the top 10 steel companies in India. However before we delve into further details it must be mentioned that the compilation of the list has not been an easy task, considering the fact that we were forced to leave out names which any day could comfortably be placed among the leading steel manufacturers in Asia:
Jindal Steel and Power Limited:JSPL or Jindal Steel or Power Limited is one of the frontrunners among steel companies in India. With its operations spanning diverse sectors like Power Generation, Mining and Infrastructure, JSPL has a yearly turnover of over US 3.5 billion dollars. Very few would question its place in the top 5 steel companies of India, still here we are mentioning the names of a few of the illustrious awards and rewards received by the company from time to time to to throw further light on the company’s status in the country— Forbes Asia’s ‘Fabulous 50′ international award, ranked top in BT’s (Business Today) 500 India’s Most Valuable Companies (Steel Category) and the top Indian company (Iron and Steel Sector) for Dun & Bradstreet (Rolta Corporate Awards) in the year 2009, etc.
Tata Steel:Tata Steel featured among the illustrious list of the top 10 largest steel producing companies of the world as per World Steel Association. It is in fact the worldâ€™s second most â€œgeographically diversified steel producerâ€. Part of the countryâ€™s largest industrial conglomerate Tata Steel was established in India in 1907. Today after more than 100 years in the country the company aims at scaling further strides in future by tirelessly working towards improving and delivery of quality products.
Steel Authority of India: A fully integrated iron and steel making company SAIL or Steel Authority of India is one of the Maharatnas of Indiaâ€™s Central Public Sector Enterprises. The range of products that the company deals into is diverse. It includes electrical sheets, railway products, cold rolled coils, stainless steel etc.
Essar Steels Limited: Asides from India, Essar Steel commands a formidable presence in places like Middle East, Canada and the USA as well. Its operations span various areas like steel processing, iron ore beneficiation, steel distribution, pelletization, and iron and steel. The carbon steel manufacturer has a capacity of 14 million tonnes per year.
Rashtriya Ispat Nigam Limited-Vishakhapatnam Steel Plant or Vizag Steel: A Central public sector undertaking, owned by the Ministry of Steel, this company is the first shore based Integrated Steel Plant in India. Vizag Steelâ€™s contribution to the development of projects of national importance has been remarkable. It has from time to time supplied different grades or categories of steel for nuclear complexes, bridges, metros etc.
Rourkela Steel Plant: It is the first integrated steel plant of the Indian public sector. As per a Times of India report, the plantâ€™s overall production had reached an all time high during the period April- November, 2012. 14,57,314 tonnes of crude steel, 15,58,638 tonnes of hot metal, 13,75,516 tonnes of saleable steel were produced during the first few months of fiscal year 2012-2013. Remarkable growth rate was also noticed in production of cold rolled non-oriented steel, and that of spiral weld pipes.
Durgapur Steel Plant: One of the leading names in steel making in India, Durgapur Steel Plant or DSP was established in the fifties. At that time it had a meager annual capacity of producing 1 million tonnes of crude steel. However now, aided by numerous technological developments the company has state of the art equipments to manufacture and produce 1.8 million tonnes of crude steel, 2.088 million tones of hot metal and 1.586 million tones of saleable steel. In July 2012 the company reported a 6% growth in saleable steel production according to economictimes.indiatimes.com.
Bhilai Steel Plant: A flagship of Steel Authority of India Bhilai Steel Plant bagged the Prime Ministerâ€™s award for the Best Integrated Steel Plant in the country.
Kalyani Steel Ltd and Bokaro Steel Plant are two other companies which can be placed among the top 10 steel companies in India.