Highlighting the target of the sector and the newly rolled out steel policy, the Union Steel Minister Birender Singh said that the sector is looking at an increased production to 300 million tons over the course of next 10 years.
The Minister made these remarks during the Global Recycling Convention 2017 organized by Bureau of International Recycling in the national capital.
The Minister said that the government has rolled out new Steel policy 2017 to increase steel production in India to 300 million tones by 2030-31 and recycling industry can play significant role in achieving this target by providing raw material.
Singh further informed that the government is in the process of setting up scrap based steel plants across India in order to facilitate recycled metal and reduce energy and water used in steel production as compared to virgin iron ore.
He also mentioned that by the year 2018, India’s first auto shredding and vehicle recycling plant would be established under the joint venture between MSTC, PSU under the Ministry of Steel.
This plant will be able to recycle 15- 20 years old vehicles and also prove instrumental in the government’s Make in India programme, the Minister added.