India to double the output of crude steel in the next 10 years: PM Modi
Addressing a gathering on the occasion of expansion of ArcelorMittal Nippon Steel plant at Hazira in Surat, Gujarat on 28 October 2022 via video message, Prime Minister Narendra Modi said that his government has set a target to double the production of crude steel from the present 154 million tonnes per annum to 300 MT production capacity in the next 9-10 years.
ArcelorMittal Nippon Steel India (AM/NS India) is a joint venture between Luxembourg based ArcelorMittal and Nippon Steel of Japan .
The company is investing Rs 60,000 crores to expand crude steel capacity at its Hazira plant from 9 million tonnes per annum (MTPA) to 15 MTPA.
Underlining the growing role of the steel industry in goals of moving towards a developed India by 2047, he said that a strong steel sector leads to a robust infrastructure sector.
Steel and India
India was the largest producer of Sponge Iron in the world in 2021.
India was the second largest consumer of steel in the world in 2021 after China .
India is the second largest producer of crude steel in the world after China .
India has set a target to increase the crude steel production to 300 million tonnes per annum by 2030.
India has set the target to increase per capita steel consumption to the level of 160 Kgs by 2030.
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