Centre's 300-mt steel plan a $25-bn window for equipment makers: Govt

An estimated Rs 25 billion in such equipment would be needed, in addition to $500 million a year in imported spares

The Union government’s plan for 300 million tonnes of steel making capacity by 2030-31 in the country is an opportunity for foreign plant and equipment suppliers, noted the government.

An estimated Rs 25 billion in such equipment would be needed. There would be the associated need for spares, for which there is an estimate of $500 million annually in import.

Union steel minister Birender Singh noted the domestic sector was growing at 6.7 per cent annually.

India’s annual per capital consumption of steel is 61 kg; the world average is 208 kg. According to the National Steel Policy, issue last year, the Indian