Galvanized steel will give long life to coastal infrastructure, says Scindia
The Indian Railways and Steel Authority of India Limited (SAIL) are working together to produce corrosion free steel, given the zinc resources in India.
With anti-corrosion features and quality to prevent oxidation in steel products, zinc has tremendous marketing potential for sectors like renewable energy, rural electrification, galvanizing the structure in smart cities among others, Steel Minister Jyotiraditya Scindia said, announcing the IR-SAIL work on corrosion free steel.
Addressing the fourth Global Zinc Summit -2023 on 16 Feb 2023, he pointed out that 80% of Zinc produced in India is consumed domestically. India is rated the world’s fourth largest zinc producer.
“Galvanized steel will give long life to infrastructure made in our long coastal line,” the Minister underlined.
Touching upon the crucial strides made by India’s steel sector, Scindia stated that large scale augmentation will be done to double production from present capacity of 150 million tonnes per annum to 300 million tonnes per annum by 2030.
India’s per capita steel consumption has gone up from 57kg to 78kg in the last nine years.
The Minister informed, “We have awarded 54 applications submitted from close to 26 companies under the Production Linked incentive (PLI) for specialty steel.
“The Cabinet in July 2021 approved a Rs.6,322-crore PLI scheme to boost the production of speciality steel in India. The PLI will help to extent production capacity of 26 million ton per annum and investment of Rs.30,000 crore with the employment generation for 55,000 people.” fiinews.com
