India’s Ministry of Steel has proposed a draft framework policy for the development of ‘steel clusters’ to meet domestic steel demand of 225 million mt per year by 2030 with the focus creating an eco-system for the larger role of secondary steel production and steel ancillary units, junior minister of steel Faggan Singh Kulaste said on Friday, November 27.
The junior minister said that the secondary steel sector will need to play an important role if domestic demand of 225 million mt per year and production of 300 million mt per year is to be achieved by 2030.
The proposed policy will envision clusters as region-defined with ancillary and secondary steel units around steel producers to ensure availability of raw materials.
“It will help units improve cost-competitiveness, logistic efficiencies and production quality and this in turn will drive the country’s aim to achieve full self-sufficiency across steel product categories and generate employment around the clusters.