Centre invites steel players to set up base in country

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Angul (odisha) | Published: June 17, 2018 2:55:31 AM

In line with its "Make in India" initiative, the government will invite big players, who manufacture machinery and build plants for the steel sector, to set up shops in the country.

Centre invites steel players to set up base in country

In line with its “Make in India” initiative, the government will invite big players, who manufacture machinery and build plants for the steel sector, to set up shops in the country.

“If we were to reach to 300 million tonnes per annum (mtpa) steel capacity in the next 10-12 years, plant and machinery worth Rs 4 lakh crore would be required. This gives a huge scope for the international plant and machinery makers to come to India,” steel minister Birender Singh said here on Saturday. India had unveiled in May, 2017, its national steel policy to add around 200 mtpa capacity by 2030-31 to take it to 300 mtpa. Currently, the world’s second largest steel producer, after China, India’s installed steel making capacity stands at around 130 mtpa.

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