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The minister said that a sum of Rs 20,000 crore has been provisioned in the Budget to capitalise the DFI.

Ground has been broken for a massive expansion project that will add an electric arc furnace to the AM/NS Calvert steel mill north of Mobile.

The group said it shipped about 10,000 tonnes to its partners in Belgium and Spain during January.

The company's average capacity utilisation was 96% during the month of January 2021.

India's crude steel production fell by 10.6 per cent to 99.6 million tonnes (MT) in 2020, according to the worldsteel.

The group also enjoyed spectacular growth in agriculture which made up 11.7 percent of its revenue and 12.4 percent of after-tax profit.

Adjusted year-to-date production through February 13, 2021 was 10,808,000 net tons, at a capability utilization rate of 75.9 percent.

Hoa Phat’s steel market share in Vietnam currently stands at 32.5 percent.