The Indian Government has said that it is planning to set up new steel plants on surplus land available with PSUs.
As per reports, the Government plans to forge partnership with private sector to help more than double steel production capacity to 300 million tonnes by 2030.
Commenting on the issue, Steel Minister Chaudhary Birender Singh told the media, “After 12 years, a new policy for steel sector has been approved, which will provide a great boost to the industry and make it globally competitive.”
“The government plans to utilise the surplus land of steel PSUs to set up new plant in joint venture with private companies. If we have to create steel-making capacity of 300 million tonnes, we cannot wait for long time”, he added.
“The share of PSUs and private companies is expected to remain at the present level in future capacity addition. At present, the PSUs contribute 19 per cent to the total country’s production capacity,” he further said.