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Indian steel capacity to reach 150 million tonnes by 2021 - Steel Secretary- The 19th China (Guangzhou) Int¡¯l Plate metal, Bar, wire, Metal Processing &Setting Equipment Exhibition
10/12/2017 plate metal expo-wire expo |
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Bloomberg reported that according to the government, steel demand in India is gathering speed amid an infrastructure building boom that¡¯s set to more than double capacity of the nation¡¯s mills, according to the government. Steel Secretary Ms Aruna Sharma said ¡°We¡¯re expecting domestic consumption to accelerate in the decade between 2020-2030. Annual capacity stands at 126 million tonnes and is forecast to rise to 150 million tonnes by 2021, before settling at 300 million tonnes.¡±
She told ¡°It¡¯s taken seven years for per capita steel consumption to rise to 60 kilograms from 50 kilograms and just 18 months to get to 64 kilograms this year.¡±
She told ¡°While the government¡¯s push on infrastructure will be the main driver for rising demand, the ministry is also seeking to boost steel¡¯s use in structures including pipes for drinking water.¡±
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