India’s Ministry of Steel will frame a national steel scrap policy before the end of the current year, aligned to the mandatory scrapping of commercial vehicles of 20-years or older, a ministry official said on Tuesday, April 24.
The steel ministry is awaiting the mandatory scrapping of commercial vehicles older than 20 years, expected to be announced by the Ministry of Transport within the next few months, the official said.
The national steel scrap policy will lay down rules and regulations pertaining to issues like aggregation of steel scrap from various sources, standard operating procedures for dismantling of commercial vehicles, the price to be paid for scrap, and ensuring that scrap generated from passenger vehicles is segregated from scrap generated from other sources like consumer durables, electronic products and other white goods, the official added.
Most scrap recycling ventures required as support to the mandatory vehicle scrapping policy will be set up by the private sector and through public-private participation, the steel ministry official said, pointing to the recycling venture started by government trading firm MSTC Limited in collaboration with private company Mahindra Intertrade Limited as an example.