Steel consumption in India is steadily increasing. In 2019, the country will pass the “psychological” barrier of 100 million metric tons. The country produces 75 kg of steel per capita against the world average of 225 kg. Therefore, further development of the steel industry is forecasted with a growth rate of 7.2-7.4% per year.
The Indian government actively supports investment projects for the construction of railways, the construction of buildings from steel structures. Strives to modernize the ore mining and steel making process.
So, the National Mineral Development Corporation (NMDC) is going to launch in 2019-20. new steel plant worth US $ 2.2 billion. The company will generate $ 1.7 billion in revenue annually, minus 25% of this amount for taxes and depreciation expenses. Thanks to it, high-quality sheet products will enter the domestic market: hot-rolled plates, steel sheets and coils, blanks for cars.