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India hopes to double capacity for electric steel

22 October 2017

The demand for steel in India continues to grow. Such trends are observed by increasing building volumes. The result will be a need to double the expansion of production capacities of metallurgical sector. The doubling of the indicators should occur in the next thirteen years — by 2030. The government of India expects that the total production capacity will increase to the level of 150 million tons/year. Such a result should be available by 2021. By 2030, production volumes should reach 300 million tons. To date, the national metallurgical sector smelted 126 million tons.

The wave of urbanization led to the need to increase volumes of infrastructure construction. Accordingly, increased consumption of steel. India took seven years to increase steel consumption per person from 50 to 60 pounds. However, in order to bring this figure up to 64 kg took only 1.5 years. For the first half of 2016−2017 financial year from April to September, the consumption of steel production in the country increased by 4.3%. The comparison was made relative to the same period last year. The unemployment rate increased to 43 million tons. Production volumes increased by 5% to a level of 52 million tonnes.

India expects to occupy the world’s second position for the production of steel. To do this, in 2022, the planned output at 146 million tons. To date, second place belongs to Japan. Japanese steel sector in 2022 to plan the release of 118 million tons of steel. In the first place is traditionally China. And increase the export of Indian steel. In September of this year, the figure reached 1,119 million tons. Compared with the year 2016, it increased by 70.6 per cent. This figure is second only to March of the current year.

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