Indian government announces projects to trigger short term steel demand

Wednesday, 19 August 2020 11:55:21 (GMT+3)   |   Kolkata

The Indian government has announced a slew of measures to trigger immediate demand for steel in various government funded projects, a government official said.

The Ministry of Housing and Urban Affairs has announced that estimated 1.58 million mt of steel will be consumed in government projects to build affordable housing to be constructed across 4,500 urban cities and towns across the country.

The government has also approved construction of fourth phase of Metro Rail project in Delhi which is expected to consume 678,000 mt of steel, the official said.

Minister of Steel, Dharmendra Pradhan, also urged domestic steel producers to partner the government in construction of mass housing projects for migrant laborers across industrial towns and cities which in turn will revive demand for their construction grade steel products as the government has set a target of constructing 100,000 such low cost houses for urban migrant laborers.

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