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Move to promote usage of steel in construction

Our Bureau

Mumbai , Feb. 24

THE International Iron and Steel Institute and 11 member companies have agreed to a five-year 14-million euro (around Rs 81 crore) programme to increase the use of steel in construction by up to 10 per cent over the next five years.

Companies that signed the recent agreement were Arcelor, BlueScope Steel, CELSA, Corus, Mittal Steel, POSCO and Tata Steel.

Others participating in the programme are Erdemir, IMIDRO, Ispat Industries and Ruukki, a statement from Tata Steel said on Thursday.

According to it, the worldwide consumption of finished steel in construction was 275 million tonnes in 2002, which equates to 44 kg per capita consumption.

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