Big ticket infra projects to boost steel demand despite slowdown: RINL CMD

A government task force recently projected total investment of Rs 111 trillion in infra projects over five years to augment infrastructure and create jobs in the country

The implementation of big-ticket infrastructure projects will lead to a sharp jump in steel demand, which has taken a hit due to the Covid-19 pandemic, a top RINL official said.

The outbreak of Covid-19 pandemic followed by the lockdown has impacted production, sales and dispatch of steel in India, Rashtriya Ispat Nigam Ltd (RINL) CMD P K Rath told PTI.

The slowdown in industries like construction, auto, and infrastructure, which together consume about 80 per cent of steel production, during the lockdown led to a slump in demand of steel in the country and as a result inventory levels have