Indian state-run Steel Authority of India Limited (SAIL) will ramp up its steel production capacity to 50 million mt per year by 2030 from 21.4 million mt per year through brownfield and greenfield projects to support the government’s plans to increase domestic steel production to 300 million mt by that year, a company official said on Monday, December 31.
The official stated that at least 50 percent of the incremental production will be for special steel and that the producer will be the leader in production of value-added steel rather than a producer of commodity steel products.
Citing an example, he said that state transporter Indian Railways is floating global tenders seeking supplies of steel rails, adding that it should be the endeavor of SAIL to meet the entire requirement of Indian Railways through domestic production.
A recent note prepared by the Ministry of Steel said that, despite India being the second largest steel producer in the world, the country is still heavily dependent on imports for domestic demand of special steels and the government will support domestic steel producers in augmenting production of electrical grade steel like cold rolled grain oriented (CRGO) steel and auto grade steel products and in achieving 100 percent self-sufficiency in these product categories by 2030.