New Delhi, January 01: The Steel Ministry has said the country is poised to become the second largest crude steel producer in the world by 2015 with major investment plans in the sector.
“With a production of 46.77 million tonne crude steel during the January-October 2009 period, the country has emerged as the fourth largest steel producer in the world and is expected to become the second largest producer in the world by 2015,” Steel Ministry said in a statement today.
The country is likely to achieve a crude steel production capacity of 124 mt by 2012, it said.
The ministry also said as many as 222 memoranda of understanding have been signed with various states, mostly Jharkhand, Chhattisgarh, Orissa and West Bengal. These projects would create an additional capacity of 276mt.
–Agencies