Rimjhim electricity based methods constitute about 50% of the

Rimjhim Ispat MD Yogesh Agarwal believes
that India can climb up the ladder and become the largest steel producer in the
world. His statement came in the light of a report released by World Steel
Association, according to which India now ranks as the 2nd largest
electricity based steel producer.

According to the report, India
has surpassed other leading steel producing countries like Russia, the United
States and South Korea over a span of a mere decade. It is now the 3rd
largest steel producer in the world, only surpassed by Japan and China.

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The report has also revealed that
about 57% of steel production in India in the year 2016 used electricity based
methods. India’s electricity based steel production was hence found to be the 2nd
largest among the major steel producing countries across the globe. The United
States holds the 1st position when it comes to producing steel
through electricity based methods. Most other large producers still use the
conventional steelmaking processes which involve the use of oxygen.

On being asked about what makes
Indian steelmaking stand apart from the others, Rimjhim Ispat MD Yogesh Agarwal
said, “In my opinion, there are two chief factors which make steel production
in India different.”

He continued, “First is our use
of coal instead of natural gas for the production of direct reduced iron, which
is one of the essential elements needed in the steelmaking process. The second
factor, I believe, is the use of electric induction furnaces for electric-based
steelmaking at a large scale.”

Steel produced through
electricity based methods constitute about 50% of the total steel produced in
India. The country uses electric induction furnaces, in a direct contrast to
electric arc furnaces which are most commonly used in most of the countries.

For the uninitiated, electric
induction furnaces convert materials such as direct reduced iron, pig iron, or
scrap into steel by using direct induction. Alternating magnetic fields are
used to induce an electric current which heats up the furnace due to the
phenomenon of electric resistance.

According to Rimjhim Ispat MD, although
producing electricity based steel is still a nascent concept, it holds a great
scope for a bright future, since electric induction furnaces produce “energy-efficient
and clean steel through well-controlled melting process.”

“Induction steel furnaces are
highly cost effective since they use electric power instead of the conventional
use of coal in blast furnaces. Moreover, these furnaces also help in reducing
carbon footprint, hence leading to a cleaner and safer environment,” quipped Mr
Yogesh Agarwal.

He added, “Indian steel market is
experiencing a major boost. We, at Rimjhim Ispat, are planning to start new
steel manufacturing plants keeping in mind the growing demand of steel in the
country as well as across the globe.”