Banks will not be reluctant to lend to steel firms anymore: Birender Singh

These are places that are likely to emerge as steel hub for country -Kalinganagar, Angul & Rourkela. At these places only, we would be creating a capacity of 100 mn tonnes, says Union Steel Minister

The steel industry has been in a turmoil even during the four years of the NDA rule. First, it was the global glut and now the insolvency proceeding, which is causing distress. In an interview with Megha Manchanda and Jyoti Mukul, Union steel minister Birender Singh says banks have managed to get more than they expected from the insolvency process and this will free up capital. Excerpts:
 
Have insolvency proceedings in the steel sector undone the revival that government measures such as anti-dumping and MIP brought about?
 
Five steel companies have figured in the insolvency list — Bhushan