Tata Steel is constructing the first steel recycling plant in India. The facility will be based in Rohtak, Haryana.
The move ‘will help formalise the scrap market in India,’ says Tata Steel ceo Thachat Viswanath Narendran. He points out that India is the fastest growing steel market in the world. The new recycling plant will have a capacity of around 500 000 tonnes per year. More than US$ 7 million will be invested in venture; it will feature state-of-the-art equipment and an electric arc furnace.
Tata Steel expects to to commercially start production in the second half of the present fiscal year. Besides, Narendran reveals the company has plans to build similar steel recycling facilities across India. The ceo estimates that the annual demand for steel scrap in India stands at 30 million tonnes. Some five million tonnes are being imported every year.
‘In preparing for the future, Tata Steel has set up a steel recycling business to meet the growing demand for steel in a sustainable manner in the long run,’ Narendran comments. He is confident that the steel recycling business will ‘help the country transition to a scrap-based steel making route in the long-term’.
Would you like to share any interesting developments or article ideas with us? Don't hesitate to contact us.