India is second largest stainless steel producer in the world: steel minister

Chaudhary Birender Singh expressed hope that SAIL and Arcelor Mittal would soon formalise a joint venture for production of automotive-grade steel

GN Bureau | May 26, 2017


#Chaudhary Birender Singh   #stainess steel   #SAIL   #CPSE   #steel processing  
Chaudhary Birender Singh, minister for steel, said that the Indian steel industry is at the cusp of a significant milestone by becoming the second largest stainless steel producer in the world, leaving behind Japan. He said that the steel sector is only an example of all-round development in India. The cabinet approved two policies of the steel ministry on May 3 and it is working on their implementation.
 
Singh expressed hope that SAIL & Arcelor Mittal would soon formalise the joint venture for production of automotive-grade steel. "This will be a big step-forward under the prime minister’s Make in India programme” he added.
 
“We are very confident that steel sector will become more vibrant and dynamic after the ‘National Steel Policy 2017’ and ‘Policy for preference to domestically manufactured iron & steel products in government procurement’ becomes effective," he said.
 
He said the ministry and United Nations Development Programme (UNDP) have worked for energy conservation in 300 secondary steel units. Plans are to upscale to 1,000 secondary steel units. It would reduce CO2 emissions, roughly equal to taking all passenger cars off Delhi’s roads, Singh said.
 
The minister said the three steel processing units — Jagdishpur in UP, Bettiah in Bihar and Kangra in Himachal Pradesh are going to be operationalised within next one year. It involves an investment of Rs 500 crore.
 

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