The Indian government is planning a series of ‘mega projects’ to increase steel capacity and meet growing demand.
The steel ministry, in co-operation with state governments, will identify four to five locations close to iron ore mining sites for developing ultra mega steel projects (UMSP).
The minimum capacity of a UMSP will be 10Mt and it will be offered to both public and private sector companies under a competitive bidding process.
The central government in collaboration with state governments will create infrastructure for the mega steel projects, such as getting clearances for the project and assuring raw material links.
Bids will then be invited from companies and the successful company will be given the project for development within a specific period of time.