India aiming for 300 MT of crude steel production in next 10 years:PM Modi

New Delhi, Oct 29 (KNN) India currently produce 154 MT of crude steel and our target is to achieve 300 MT production capacity in the next 9-10 years, said Prime Minister Narendra Modi on Friday.

In his virtual address at the “bhoomi pujan" of the expansion of ArcelorMittal Nippon Steel India, Hazira plant, the Prime Minister said “India is rapidly moving towards becoming the world’s largest manufacturing hub and the government is actively engaged in creating the necessary policy environment for the development of the steel sector.”

“An investment of more than Rs 60,000 crores will create many employment opportunities for the youth of Gujarat and the country. After this expansion, the crude steel production capacity at Hazira Steel Plant will increase from 9 million tonnes to 15 million tonnes,”he said.

PM Modi further said that along with the expansion, a totally new technology is coming to India which will be a huge help in the electric vehicle, automobile and other manufacturing sectors. “I am sure that this project will prove to be a milestone in the vision of Make in India. This will give new strength to our efforts for a developed India and self-reliant India in the steel sector."

During his address, Modi also highly the importance PLI scheme in creating new avenues of its growth. 

On the one hand India is expanding the capacity to produce crude steel and on the other it is also promoting the use of environment friendly technologies. 

India is emphasizing on developing such production technologies which not only reduce carbon emissions but also capture and reuse carbon.  (KNN Bureau)