A High Level delegation led by the Union Minister of Steel Beni Prasad Verma, currently on a week-long tour to Canada, reached Toronto on 15th July with an objective to have cooperation between organizations of both the countries for sourcing/acquisition of minerals, viz. coking coal and iron ore, as a long term perspective for sustained growth of Indian Steel industry. Acquisition of intellectual property and cooperation in R&D activities are also part of the agenda.
On the first day of the visit, the delegation concluded an MoU between RINL and McMaster University, Hamilton, Canada, to collaborate and strengthen Research cooperation, in the areas of Steel making, Beneficiation and Pellet making from low grade magnetite and also towards training, exchange of research, etc. An MoU got signed by A P Choudhary, CMD, Rashtriya Ispat Nigam Limited (RINL), with Dr Peter Mascher, McMaster University on 16th July.
Beni Prasad Verma mentioned that such cooperation with leading University will strengthen R&D activities in steel sector which is a must to achieve Governmentâ€™s planned level of over 200 million tonnes of capacity during next few years. On a query by a Canadian organization about export of iron ore from India, Beni Prasad Verma mentioned that Government has already taken action which has resulted in sharp decline of exports by 75%.
He also mentioned that although India has rich reserves of iron ore, it is opportune time for Indian steel industry to acquire more iron ore mines to meet the requirement of next generation, the country being populous.
Verma is also visiting mineral rich State of British Columbia and will have discussions with the Premier of British Columbia and other concerned Ministers and organizations on the subject during the visit.
The Secretary, Ministry of Steel, DRS Chaudhary and Joint Secretary (Steel) Lokesh Chandra are also accompanying the Minister as part of the delegation.
- Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
- Now Save Rs.3150 on your Demat Account ...Click here
- Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
- Get the most detailed result analysis on the web - Real Fast!
- Actionable & Award-Winning Research on 500 Listed Indian Companies.