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India can achieve 300 million tonnes of steel output by 2025: RINL

Thursday, 21 August 2014 - 4:16pm IST | Agency: PTI

Rastriya Ispat Nigam Ltd (RINL) chairman P Madhusudan today said that the country has the capacity to achieve the target of 300 million tonnes of steel output by 2025.

Madhusudan, who was addressing the two-day seminar on 'Indian Steel Industry- Vision 2025' here said, "The target of 300 million tonnes by 2025 tonnes is realisable. There is no doubt about the potential to achieve the target. But we have to deal with problems such as land acquisition and raw materials." The senior official further added that a realistic road map by taking into account constraints such as land acquisition and raw materials should be looked into.

Former CMD of Visakhapatnam Steel Plant Y Siva Sagar Rao said the steel industry has a bright future as there is a strong demand for the commodity. "We will achieve the target as India has rich iron ore reserves. Project executions should be speedy and cost escalation should be avoided," Rao said, adding, more than 300 MoUs have been signed to produce 400 million tonnes of steel.

Managing director, Stollberg India Pvt Ltd Bimal K Sarkar on the occasion said that the government should be give more importance towards the industry and work on creating infrastructure facilities to meet the vision demand.

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