The leader of India’s Ministry of Steel has reportedly stated that the government will encourage investments in additional scrap-based steelmaking in that nation.
According to an online report from Mumbai-based moneycontol.com, an affiliate of CNBC, Steel Minister Chaudhary Birender Singh, while speaking at an industry conference, referred to scrap-fed electric arc furnace (EAF) steel mills as cost-effective, energy-efficient and environmentally friendly.
He reportedly urged steelmakers in India to “deliberate on the cost-benefit analysis of setting up scrap-based steel plants in north and west India.”
Singh said technology that involved the production of specialty and high-grade steels should be considered, as should mill locations near ports, according to CNBC.
In his presentation, Singh reportedly noted that India is already the second-largest importer of ferrous scrap, behind Turkey, and that it also was on pace to generate some 7.5 million tonnes of its own ferrous scrap each year. According to CNBC, he also expressed optimism in India’s ability to expand its annual steel output.