PM Narendra Modi lauds India's steel sector progress while laying foundation of ArcelorMittal's Hazira plant expansion

Prime Minister Narendra Modi on Friday lauded India's steel industry and said it has become the second largest in the world, during the 'bhoomi pujan' ceremony of ArcelorMittal Nippon Steel India's flagship plant at Hazira in Gujarat.

"Earlier we had to import high-grade steel for defence sector, but now steel used in building INS Vikrant was made in India," the Prime Minister said while praising the Indian steel manufacturers.

He also stated that the government has set target of increasing crude steel production capacity from 154 million tonnes to 300 million tonnes.


"As we're proceeding towards the target of a developed nation, steel industry will play a vital role in strengthening the infra of the country, " PM Modi said.

ArcelorMittal Nippon Steel India (AM/NS India) - a joint venture between ArcelorMittal and Nippon Steel, two of the world's leading steelmakers - will expand crude steel capacity at its Hazira plant from 9 million tonnes per annum (MTPA) to 15 MTPA, the company officials said.

The company was early this month awarded an environmental clearance to expand the capacity at its plant in Hazira from the current crude steel capacity of 9 million tonnes per annum (MTPA) to 15 MTPA.

"This increased steel manufacturing capacity represents a significant boost for the government's National Steel Policy, which envisages doubling domestic capacity to 300 MTPA by 2030 in a growing economy, as well as for AM/NS India's own long-term plans to expand capacity," the company had said.

(With inputs from agencies)