DRIVING INTO ESSAR STEEL’S STATE-OF-THE art Hazira complex, one if forced to admit one’s insignificance in the grand scheme of things. The impressive 3,000-acre steel plant towers in both scale and complexity of operations. Making 300 grades of steel, the company caters to the needs of every industry from defence and earth-moving equipment, to railways, automotive and white goods. Supported by Essar’s very own port, the company’s steel business produces close to a mammoth seven million tonnes of steel per annum. That figure is only set to grow to around eight million tonnes in this coming year on the back of the industry’s slow, but steady recovery from the slump that has haunted steel makers these past couple of years.
“With the intervention of the Government in terms of policy changes and MIP, the market has definitely improved. Things are looking better now. The Indian market has also grown. Of course, this was until demonetization came in, but we have reduced retail and increased exports to counter the short-term effects of demonetisation,” states Dilip Oommen, CEO & MD, Essar Steel India.
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