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Rourkela: Union Steel Minister Beni Prasad Verma on Friday asked steel manufacturers to adopt suitable technologies in order to produce special grade steel at competitive prices.
Stating that Indian steel industry needs to invest more in Research and Development, Verma said transportation of raw material through alternate technologies like slurry pipelines could be a better solution for movement of inputs.
He was delivering the inaugural address at the Steel Summit 2013 jointly organised by Ministry of Steel and CII here. The theme of the Summit was 'Roadmap for Global Competitiveness: Opportunities and Challenges'.
The Steel Minister pointed out that there is a huge potential for use of steel in rural areas, where the ingress of steel has been limited. He also stressed on the need for adopting pelletisation technology for use of low grade ore.
"Every steel producer must make business more sustainable," Verma said while speaking on the path to be followed by the steel industry in India.
SAIL Chairman C S Verma, Rashtriya Ispat Nigam Limited CMD A P Choudhary and CII Director General Chandrajit Banerjee attended the inaugural meeting.
