The article discusses AccelorMittal's plans to implement best practices and learnings in the setting up of 2 production units in India. It elaborates the current infrastructure of it's flagship production unit in Brazil and the best practices that it has implemented there. It discusses the costs and the returns from it's unit in Brazil. The focus is on usage of technology to lower the production cost and the time while improving efficiency and reducing environmental effects. The pro idea concepts here are being self sustained. Generation of own power from industrial byproducts and selling the excess power, mining of coal for the coal requirements and using of technology to reduce labor and shorten production time.
My opinions:
I think this is a step forward to progress. Companies are caught in the net to deliver and perform and the major hindrance to it is labor and technology. Also, being self sufficient in raw materials helps in making a strong foundation. In this case, the company is safe from power cost fluctuations and is also making a small profit from it's investments. The downside is that the job opportunities reduce and more skilled labor is required. This can be seen as a indicator for the government to improvise on the education, in promoting the idea of having 2 children well educated than to have 10 uneducated and slogging and affecting the country's growth.
vocabulary
grapple - to hold fast or seize. To engage in a close hand fight. To try to overcome or deal with.
flagship - the main vessel, the best or biggest liner by an operator, the most important of a group
proposition - plan proposed for acceptance. Subject for discussion
collateral - security given for a loan, of a side line, additional
envisage - visualise (en- in, visage - face)
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