Jack up capacity by 80%, steel ministry tells public sector units

The metal ministry has requested state-run firms to boost capability by 80% to 45 million tonne each year by 2030-31 from round 25 mtpa at current. SAIL and RINL are the 2 steel-making PSUs below the executive management of the metal ministry. NMDC’s maiden metal enterprise can also be nearly prepared to begin manufacturing.

The directive got here throughout a capex evaluate assembly by metal minister Ram Chandra Prasad Singh with the state-run firms. The minister requested the companies to “plan their capital projects prudently in line with the National Steel Policy (NSP), 2017”.

The NSP 2017 goals at taking the nation’s steel-making capability to 300 mtpa by 2030-31. With a bit of over 16 mtpa added within the final 5 years, India’s present capability stands at 154 mtpa.

“Based on the present assessment, the government is confident [of reaching] the capacity of 300 mtpa by 2030-31. Most of the capacity expansion comes through brownfield and some greenfield expansion which may come from 2025-30,” a press release issued after the assembly stated.

PSU metal companies had a cumulative capex of Rs 10,038 crore in FY22, up 38% over Rs 7,277 crore in FY21.

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