Growth strategy for Steel Industry – Targeting 300 million ton output: India Government

The growth strategy endorsed at the meeting aims at the production of 300 million tons of steel by the middle of the next decade. In the short run, pro-active facilitation of projects in the pipeline would be taken up on priority jointly by the Steel Ministry and the new investment facilitation mechanism in the Cabinet Secretariat. 

SAIL would leverage its existing infrastructure to substantially expand capacity. It would work out its plans for capacity expansion and production of specialty steels by 30.9.2013. A Master Plan for achieving 300 million tons of production would be prepared. As the private sector finds it difficult to assemble land and get clearances, the state would assume a pro-active role in partnership with state governments. 

Project specific SPVs would be floated for identified sites which would assemble land, get necessary approvals and clearances and tie up water and raw materials. The SPV would then be offered in a transparent manner for takeover by investors through a bidding process. The Steel Ministry would prepare a road map with time lines for the above in 8 weeks.