Steel production
Sale Chairman Amarendra Prakash said on Saturday that India can cross the target of 30 million tonnes of steel production capacity by 2030 on the basis of strong demand. Prakash said that when the National Steel Policy was introduced in 2017 to increase India’s total steel production capacity to 30 million tonnes per year, the figure looked unrealistic. He said that steel production capacity in India will increase from 18 million tonnes to 33 million tonnes in the next five years (2030). The cell chairman said, “India had implemented a national steel policy in 2017, and we said that by 2030 we want to reach 30 million tonnes. We were surprised as steel manufacturers. ”
There was no trust at that time
He further said, “I accept that we did not believe at that time that 30 million tonnes of steel can be made in India. At that time we were barely at eight million tonnes. We said that it is a joke till 2030. But, three months ago, we sat down and revised our target and said that by 2030, not 33 million tons, but 33 million tonnes can be reached. ”Prakash said that the cell is excited about the demand of rail in the country and he said It has been decided to set up a new rail mill with an investment of US $ 80 million.
Railways is the largest buyer
He said that the company has decided to pursue the investment scheme despite its biggest buyer Indian Railways, despite not getting a sign of any order. He said that due to the development -oriented policies of the government, he is confident that the demand will come. Prakash said, “Last week we decided to invest $ 80 million in a mill, because I am confident that if I meet, the railways will have to buy from me. Therefore, I have taken such a decision. ”
Latest business news