In view of growing future prospects for the electric vehicles in the country, the minister said the PSU needs to take measures to remain a leader in the market.
Chairing the mid-year review meeting of MOIL, the minister also asked the PSU to plan for building capacities in tungsten mining and production for strengthening manufacturing capabilities for defence production in India, the Ministry of Steel said in a statement.
He further said, the miner should strategically plan for forward integration to leverage its leadership position of manganese ore production in India. The company can also think of acquiring or taking majority stake in ferro-alloy production facilities, in addition to expansion efforts.
There is huge potential for e-rickshaws, e-tempos and e- cars in India, he told the PSU and said MOIL must be prepared for harnessing. In fact, the company should innovate to find new uses of manganese ore, apart from steel making, dry cell batteries and paints, he added.
The minister assured that his ministry will support every R&D initiative aimed at self-sufficiency and indigenisation. Mineral exploration activities need to be speeded up for strengthening the resource base in India.
MOIL can also examine the feasibility of using alternate modes of ore transportation, which could be environment friendly and cost effective. For closure of mines, sand requirement can be met by innovative means like collaboration with local farmers, he said.
Steel Secretary Aruna Sharma, senior officials from the Ministry of Steel and top management of MOIL were among those who attended the meeting.
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