The Union Cabinet is scheduled to consider the steel scrap policy later next week.Currently, India’s demand for scrap is around 8.. Even with enhanced domestic output, per capita steel consumption is likely to go up to 160 kgs only by 2030.”Next 25 days are very crucial time for the government… I think it (the policy) will come very soon, maybe this week,” Singh added.The government will set up at least two plants that will recycle steel scrap to begin with.5 million tonne of scrap every year. However, the minister said, “India imports around six million tonnes of scrap steel every year and is the second-largest importer of scrap after Turkey, adding that by 2025, the country will be able to generate 7. One scrap plant may be located either in Haryana or Punjab in the northern region. Hex Nuts Factory From China These regions are important from the perspective of scrap-availability and steel import hubs. So, we will prefer to start initially with 1.
New steel scrap policy is aimed at boosting per capita steel consumption that’s dismally low at 69 kilos as against global average of 214 kgs.”I would like you to deliberate on the cost-benefit analysis of setting up scrap-based steel plants in north and western India.0 million tonnes scrap steel plants in northern and western parts of India,” Singh said. The policy will outline norms for quality steel scrap, derived mostly from old vehicles that can be recycled to boost domestic steel output and reduce imports.5-3.Steel scrap policy being rolled out will give a big boost to targeted steel production in the country at 300 million tonnes in next 10 years as unveiled in the national steel policy of 2017.New Delhi: Centre will unveil the much-awaited steel scrap policy in a week to make the sector cost-effective, boost domestic production and reduce dependence on imports. It’s the policy decision of government for which we have sent our proposal to the Cabinet and waiting for the approval”.Union steel minister Chaudhary Birender Singh told Financial Chronicle, “As six million tonnes scrap is currently imported every year, our policy is ready for it.
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