(MENAFN- KNN India)
Domestic steel production capacity to peak 300MT by FY31: Assocham
New Delhi, May 26 (KNN) Domestic steel production capacity is expected to touch 300 MT and crude steel production is likely to reach 255 MT by FY31, said Dr. Vinod Nowal, Chairman of Assocham's National Council on Iron and Steel on Thursday.
Speaking at the India Steel Summit organised by Assocham, he said around 40 million tonne (MT) of new steel-making capacity will be commissioned by 2025-26.
As of March 2023, India's total installed steel-making capacity was 154 MT, as per the industry body Indian Steel Association (ISA).
Another 40 MT capacity addition by FY26 will scale it up to 194 MT.
Ruchika Chaudhry Govil, Additional Secretary, Ministry of Mines delivered a special address and Sanjay Lohia, Additional Secretary, Ministry of Mines delivered the keynote address.
Overall three panel discussions were held focusing on sustainability, use of new-age technology in manufacturing.
Atul Singh, Vice President, AM/NS Khopoli Ltd; S.K. Pradhan, CEO, Jindal Steel & Power Limited; Swati Agrawal, CEO, CARE Advisory Research and Training Ltd; Peeyush Kumar, OSD, Ministry of Coal and many other dignitaries and officials were also present.
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