The Union Minister of Steel Ram Chandra Prasad Singh on Monday reviewed the status of steel cost reduction in the production of PSUs and directed for the cost reduction through improvement in parameters.
New Delhi [India], September 21 : As per a statement released by the Ministry of Steel, Singh chaired a meeting with the officials of the steel sector and emphasised the need to carry out macro and micro analysis of the parameters affecting the cost production. Singh directed that a road map for cost reduction through improvement in the aforementioned parameters in the next six months, be prepared and necessary action be taken. He urged the PSUs to focus on the important cost-cutting measures such as reduction in the coke rate, increase PCI injection and the use of pellets to reduce the consumption of coking coal and minimise the cost of production.
He also informed that these techno-economic parameters would be monitored on monthly basis through the Steel Dashboard.
The various parameters affecting the efficiency and productivity of the steel plants were reviewed so as to reduce the cost of production, improve energy efficiency, reduce greenhouse gases emissions and minimise water consumption.
The measures being taken to increase efficiency and productivity and reduce the cost of production of the steel plants and mines as per the Indian and global benchmarks and action plans to achieve the same were also discussed in the meeting.