The BJP government is planning to set up five scrap-based steel plants at an investment of Rs500 crore within a year to ensure that a chunk of the country’s targeted 300 million tonnes (mt) steel output is met through scrap.
India’s target is to more than double the steel output by 2030, from 10 mt at present. “…from 126 mt to 300 mt (of steel output) that we are eyeing, in that everything will not come from the fresh iron. So it will be coming from the scrap,” steel secretary Aruna Sharma told.
“Within one year all the five (scrap-based) plants will come,” she said, adding that in each plant around Rs100 crore would be invested.
Stating that the first such plant would come up next month in Noida, Uttar Pradesh, she said, “after Noida we will start in Southern India, then in Western India, Central India then one more in Northern India”.
