Pradhan invites Japanese steel investors

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Projects include 16,000-km pipelines

Steel Minister Dharmendra Pradhan has invited the Japanese industry to invest in India and get into technology transfer partnerships in order to tap the opportunities arising out of growing steel demand.

Hosting the Japanese delegation at a workshop on ‘Enabling Procedures for increase of steel usage for the growth of Economy’, he highlighted the scope of investment opportunities based on steel projects such as US$60 billion for creation of energy infrastructure.

The projects include addition of about 16,000-km of gas pipelines that would boost steel demand in the country, he added at the workshop attended by the Japanese ambassador to India Satoshi Suzuki.

Pradhan stressed on the need to focus on collaborations between Japanese and Indian companies with the aim to increase steel usage in the country’s infrastructure development.

The minister said that with a large market, policy reforms, abundance of raw material, India remains one of the most attractive global investment destinations in steel sector.

The workshop was organised by Ministry of Steel in collaboration with Confederation of Indian Industries (CII), Ministry of Economy, Trade and Industry of Japan and the Association for Overseas Technical Cooperation and Sustainable Partnerships of Japan.

Held 24 Feb 2020, it was attended by policy makers, bureaucrats, steel PSUs, integrated steel producers, secondary steel producers, infrastructure developers, equipment manufacturers, user organizations & associations, academicians, secondary steel associations, steel consultants, among others. fiinews.com

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