Steel production to be over 150 mt by 2020

New Delhi : Minister of steel Beni Prasad Verma on Tuesday said that the country’s production capacity is expected to increase to more than 150 million tonnes (mt) by 2020 from 60 mt at present. He also said India will become the second largest steel producer in the world by 2013 with an installed annual production capacity of 120 million tonnes.

“Currently, India has the fourth largest steel sector in the world, both in terms of capacity and production. By 2013, India will be the second largest steel producer in the world. It is estimated that India will have a production capacity of 120 mt," Verma said at a Steel Summit organised here by Assocham.