{"id":6598,"date":"2024-05-30T19:44:10","date_gmt":"2024-05-30T14:14:10","guid":{"rendered":"https:\/\/matribhumisamachar.com\/en\/?p=6598"},"modified":"2024-05-30T19:44:10","modified_gmt":"2024-05-30T14:14:10","slug":"icons24-international-steel-conference-spotlights-capital-goods","status":"publish","type":"post","link":"https:\/\/matribhumisamachar.com\/en\/2024\/05\/30\/icons24-international-steel-conference-spotlights-capital-goods\/","title":{"rendered":"ICONS24: International Steel Conference Spotlights Capital Goods"},"content":{"rendered":"

MECON Limited along with SAIL , under the aegis of Ministry of Steel, Government of India is organizing a two days International Conference on Steel (ICONS-2024): Focus on Capital Goods on 30th & 31st May 2024 at Ranchi.<\/p>\n

The objective of the conference is to bring together the brightest minds and leading stakeholders from across the steel industry, including technology providers, steel producers, manufacturers, academia and more to foster new partnerships, explore innovative solutions and to drive forward the future of steel industry.<\/p>\n

Shri Sanjay Kumar Verma, CMD-MECON welcomed all the dignitaries and set the context of the conference. The inaugural session of the Conference was attended by Shri Nagendra Nath Sinha- Secretary-Ministry of Steel, GoI, Ms. Sukriti Likhi- Additional Secretary & Financial Advisor, MoS, Shri Abhijit Narendra-Joint Secretory MoS, Dr. Sanjay Roy-Jt. Secretory, MoS, Shri Amitava Mukherjee, CMD-NMDC, Shri Ajit Kumar Saxena, CMD-MOIL, Shri Sanjay Kumar Verma, CMD & Director commercial Addl charge-MECON and Shri Amarendu Prakash- Chairman-SAIL. Some dignitaries also joined virtually through video conference. CMD-SAIL, CMD-MOIL and CMD-NMDC addressed the gathering.<\/p>\n

In the special address, Shri Nagendra Nath Sinha, Secretary-MoS, GoI said that today meticulous project planning and timely execution has become one of the biggest challenges for the steel projects being set up in India. He stressed on the need to find out innovative ways of timely executing our projects for keeping steel projects healthy and for their long-term sustainability. He also emphasized on new ways of working, new ideas, new talents need to be inducted to revive Heavy industry sector.<\/p>\n

Shri Abhijit Narendra, Joint Secretary-MoS, GoI said that although we are second in steel production, but we have limitations in making machineries for steel industry. He stressed on to create an Ecosystem containing all the stakeholders.<\/p>\n

CMD- NMDC mentioned that India is the 5th<\/sup>\u00a0largest Economy, we are the most young and vibrant nation. India is basically service sector-based nation. Manufacturing sector needs to grow substantially and areas should be identified categorically. Constant interaction is needed between technology provider and technology buyer to educate each other on the possibilities and requirement of the future.<\/p>\n

CMD- MOIL said that capital goods sector is very strategic part of economy. Capital goods sector is considered as mother of manufacturing sector. He emphasized that integrated steel plant shall have big engineering workshop.<\/p>\n

CMD-SAIL said that considering the volatility in the world, we need to focus on supply chain security since securing supply- chain is becoming more and more difficult. He emphasized on development of a comprehensive and sustainable eco system for the production of indigenized capital goods.<\/p>\n

CMD-MECON spoke about National Steel Policy (NSP)-2017 and further elaborated that as per policy target to reach the\u00a0300 Mt steel capacity –\u00a0about\u00a0138-139<\/strong>\u00a0Mt of new capacity is estimated to be added in next 7-8 years involving a huge investment of\u00a0US$ 120-130 billion\u00a0<\/strong>from the Indian Steel industry. There will be a likely import of about 15-20% of steel plant equipment from foreign countries. Given the current situation, where the import content and value rises as we move up the value chain, about\u00a0$ 18-20 billion\u00a0<\/strong>worth of imported equipment is likely to be sourced from abroad besides spares worth of about\u00a0\u00a0US$ 400-500 million<\/strong>.<\/p>\n

In order to strengthen domestic manufacturing, it is vital to explore strategies like technology transfer or international technology provider to establish manufacturing units in India.<\/p>\n

The First Day of the conference also covered four technical sessions:<\/p>\n