Even if the proposed new steel plant were to be operated efficiently at 100% of the rated capacity, it will incur an annual loss of rupees sixty crores!"
The above conclusion of the feasibility study made out by the consultants for the proposed new steel plant at Vishakhapatnam came as a surprise to many. The findings were, however, anticipated in some knowledgeeable quarters in India. The role of the conventional iron and steel production technology which has predominated all over the world since the middle of the last century has all along been severely restricted by certain well known geogra-phical and economic factors
