FCI plans steel silos

#Food Corporation of India (FCI) plans to build 100-lakh tonne steel silos by 2020, said #Steel Minister Chaudhary Birender Singh.

Addressing the second regional conference on ‘#Make in India-Make in Steel’ in Ludhiana on 7 March 2017, he called for diversification and innovation to generate demand in the steel industry.

“The Indian steel industry has to become highly competitive and it has to benchmark the parameters for becoming a world-class steel producer,” he said.

He noted the norther Indian industries’ intensive use of scrap and cost effectively reducing coking coal dependence in mills.

Singh pointed out that the Northern region accounted for 40% of steel consumption in the country.

The country’s steel industry contributes 2% to the GDP. fii-news.com