New steel policy likely to facilitate increase in production
Minister of State for Steel Vishnu Deo Sai today announced that a new steel policy is on the anvil to facilitate the steel industry in increasing production to 300 million tonnes per annum (MTPA) by 2025, up from the present 81.2 MPTA.
The new policy is likely to focus on capacity addition and address issues related to raw material security, environmental challenges and land acquisition.
"Discussions are already taking place on the establishment of an Eastern Corridor to address freight and other logistics issues faced by the industry. There should also be a national body to supervise and undertake research in the steel sector," said Sai, addressing the Steel Summit 2014, organised by the Confederation of Indian Industry (CII).
The CII Steel Summit was attended by all major stakeholders drawn from both primary and secondary steel producers, government officials and representatives of allied sectors.