Saturday, May 14, 2022

Steel sector ready to showcase investment opportunities at EXPO 2020, Dubai

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New Delhi: Union Minister of Steel Ram Chandra Prasad Singh inaugurated the ‘Steel Week in EXPO 2020’ at India Pavilion in Dubai on Friday. The Steel Week will showcase India’s potential in the sector and invite investors from the UAE. The senior officials from major Indian steel producers including Steel Authority of India Limited (SAIL), JSW Steel, Tata Steel, Jindal Steel & Power Limited and AM/NS India were present.

Talking about the steel sector in India, CP Singh said, “Taking forward the vision of our Prime Minister, the Government is committed to facilitating accelerated growth in the steel sector, with Make-in-India fructifying into Make-in-Steel alongside Building the New India with Steel as the material of choice.”

He also highlighted that the recently launched Production Linked Incentive (PLI) Scheme for the speciality steel sector will be a cornerstone in propelling the Indian steel sector towards the target of 300 MTPA production capacity by 2030, with special emphasis on value-added steel. It is going to be a major step in the direction of Steel Vision 2047.

The delegation held meetings with steel companies from the UAE including Dana Steel, Sharaf Group and DP World. The delegation hosted an interactive session with the local construction companies, users, and importers of steel in UAE to understand the possibilities of collaboration to increase steel trade between both the countries and draw from the advantages afforded by India-UAE CEPA.

The Steel Week at India Pavilion, Expo-2020 Dubai will conclude on March 17, 2022.

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