Steel sector Current Affairs - 2019

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India attends the ADIPEC-Abu Dhabi International Petroleum Exhibition and Conference

Minister of Petroleum, Natural Gas and Steel Shri Dharmendra Pradhan will represent India at the ADIPEC-Abu Dhabi International Petroleum Exhibition and Conference between November 10-12, 2019.

Highlights

  • During the visit, minister will inaugurate the “India Pavilions” along with members and leader from CII, FIPI and DGH-Directorate General of Hydrocarbons. Indian Pavillion is a platform to showcase Indian Cinema in the overseas market.
  • As a part of the workshop, India will conduct a road show to attract foreign investment, especially in the field of oil and gas.
  • The Minister is to meet his UAE counterpart on the sideline of his visit and discuss issues of steel sector and hydrocarbon. The discussions are to be held under the recently developed India-UAE Strategic Partnership during PM Modi visit to UAE

Significance

  • India is to use this opportunity to find new markets of steel in the middle east countries.
  • ADIPEC is one of the most influential global conference in the field of oil and gas. More than 1,45,000 delegates from all over the worl are to attend the conference.
  • Interacting with the policy makers, investors and leaders will help India gain investment opportunities.

Sajjan Jindal elected as Treasurer of World Steel Association

JSW Steel CMD Sajjan Jindal was elected as treasurer of World Steel Association (WSA). He was appointed for one-year period (2018/2019) by Board of Directors of WSA at Worldsteel General Assembly held in Toyko, Japan. The board also has appointed Tata Steel MD T V Narendran and ArcelorMittal Chief L N Mittal as its members. Andre Johannpeter, Executive VC of Gerdau S A was elected as the Chairman. YU Yong (Chairman HBIS Group) and Kosei Shindo (Representative Director, Nippon Steel and Sumitomo Metal Corporation) were elected as Vice-Chairman.

World Steel Association (WSA)

WSA is a non-profit organisation and is one of the largest industry associations in world. It was founded in July 1967 and is headquartered in Brussels, Belgium. Its members represent approximately 85% of the world’s steel production. It includes over 160 steel producers with 9 of the 10 largest steel companies, national and regional steel industry associations, and steel research institutes.