India steel output seen near doubling by 2011/12 - minister
RAIPUR, India (Reuters) - India's steel production will almost double to 124 million tonnes a year by 2011-12 from 65 million, the steel minister said late on Saturday.
"There is massive expansion going on in the steel sector in the country, both in the public and private sector, that will see India becoming a major steel producer by 2011-12," Virbhadra Singh told a news conference in mineral-rich Chhattisgarh.
Singh, on a trip to state-owned Steel Authority of India Limited's flagship unit, Bhilai Steel Plant, about 30 km west of Raipur, said the Indian steel industry has largely been unaffected by the global meltdown and its steel consumption had increased.
"SAIL is pumping in 700 billion rupees ($14.31 billion) in a phased manner on modernisation and expansion of its various units and most of the modernisation projects, to be completed by 2011-12," he said.
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