New Delhi: Prime Minister Narendra Modi on Friday said that the Indian steel industry ranks second in the world and the government aims to double the production of crude steel in the country in the next 10 years.
In a virtual address at the Bhoomi Pujan of Nippon Steel's Hazira Plant Expansion Project in Gujarat's Surat, PM Modi, as quoted by news agency ANI said, “As we're proceeding toward the target of a developed nation, steel industry will play a vital role in strengthening the infrastructure of the country. Indian steel industry now ranks second in world.”
“Earlier we were dependent on imports of high-grade steel for developing defence equipment. Today, the steel industry is moving towards Aatmanirbharta and INS Vikrant is an example of this shift towards Make In India,” PM Modi said, adding, “It's our goal to double the production of crude steel in India. The government has set a target to achieve 300 million tonnes of crude steel production in the upcoming years. The government is promoting circular means of production through Public Private Partnership (PPP) model.”
It is to be noted that ArcelorMittal Nippon Steel India – a joint venture between ArcelorMittal and Nippon Steel – two of the world's leading steelmakers was awarded an environmental clearance early this month to expand the capacity at its plant in Hazira from the current crude steel capacity of 9 million tonnes per annum (MTPA) to 15 MTPA.
“This increased steel manufacturing capacity represents a significant boost for the government's National Steel Policy, which envisages doubling domestic capacity to 300 MTPA by 2030 in a growing economy, as well as for AM/NS India's own long-term plans to expand capacity,” news agency PTI quoted the company as saying.