According to the Indian government's Press Information Bureau, at the 24th meeting of the National Steel Consumers' Council, Minister of Steel Shri Beni Prasad Verma said that ten steel plants are being set up in Indian state of Uttar Pradesh with an investment of around $160 million. Also, a TMT (thermo-mechanical treatment) bar mill with an annual capacity of 150,000 mt will be built in Jagdishpur.
The minister pointed out that the Indian government is committed to accelerating the growth of the domestic steel industry through various policy measures. He expressed concern over the gap in steel consumption between rural and urban areas. Minister Verma emphasized the need for raw material securitization, efficient and cost-effective logistics, as well as the adoption of advanced technologies in steelmaking.
India's steel production capacity, which currently stands at 96 million mt per year, is being expanded gradually and is expected to reach 300 million mt by 2025. A roadmap for achieving this target is under preparation, the minister added.
