Govt. fixes 300-mn tons steel-making target

In an attempt to inject a booster to the steel manufacturing segment, the government has targeted to increase steel production to 300 million tons, said official sources, claiming that the concerned ministry is currently reviewing the performance of public sector, Manganese Ore India Limited (MOIL) and that the ministry has drafted a National Mineral Exploration Policy (NMEP) for facilitating large scale private sector investments in exploration. The Centre has earmarked Rs 30,000-cr for building infra projects in the Northeastern region in the current budget and most of this would go for development of rail, road, waterways, and telecom connectivity in the region and that the move will inject further booster to the steel making process. The country is currently the fourth largest steel producer in the world and the present government has a vision to occupy the third spot with 300 million tons of (steel) production, they added.