India plans to double its steel output in next two years

Indian Steel Minister Virbhadra Singh has told Press Trust of India that India will double its steel production in the next two years even if the projects of South Korean steel giant POSCO and the world's largest steelmaker ArcelorMittal do not take off.
 
"At present, the annual steel production is 59.9 million metric tons. By the fiscal year 2011-12, it should increase to at least 120 million metric tons," Minister Singh said.
 
Mr. Singh also added that these estimations have been made ignoring large steelmaking plants proposed by POSCO and ArcelorMittal.
 
"We are emerging as a steelmaking power. We have ambitious projects to enhance production," concluded the Minister.