New Delhi : The government is planning to set up five scrap-based steel plants at an investment of Rs 500 crore within a year to ensure that a chunk of the country’s targeted 300 million tonne 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 (million tonnes) 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 PTI.
“Within one year all the five (scrap-based) plants will come,” she said, adding that in each plant around Rs 100 crore would be invested.Stressing that all the scrap will be reused to make steel, Sharma said that by 2030 around 30-40 million tonnes of steel would be made from scrap. First such plant would come up next month in Noida.
