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India Signs Agreements Worth $5 bn to Boost its Iron and Steel Sector
November 19, 2018
To give a major push to the iron and steel industry, India has signed 38 agreements to the tune of $5 billion with 20 technology providers, steel producers, and capital goods manufacturers. Out of these 20, 12 are based overseas which include Danieli Corus, a major supplier in the metals industry, and Paul Wurth which is another big player in the iron and steel industry providing tech solutions.
With the support of the newly-signed pacts, India looks to increase its crude steel capacity to 300 million tonnes by FY31. Currently, its capacity is 134 million tonnes.
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