Steel sector Current Affairs
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.
The Appointments Committee of the Cabinet (ACC) chaired by Prime Minister Narendra Modi has appointed Anil Kumar Chaudhary as new Chairman of Steel Authority of India Ltd. He will in office till his superannuation in December, 2020. He will succeed P K Singh, who had retired from the post in June 2018. Prior to this appointment, he was serving as Director (Finance) at SAIL.
Steel Authority of India Limited (SAIL)
SAIL is one of the largest state-owned steel in India and one of the top steel makers in world. It is India’s largest steel making company (annual production capacity of 14.38 million metric tons) and 24th largest steel producer in the world. It was founded in 1954 and incorporated in 1973. Its headquarters are in New Delhi. It operates and owns five integrated steel plants at Bhilai, Durgapur, Rourkela, Bokaro and Burnpur and 3 special steel plants at Salem, Durgapur and Bhadravathi.