By FY26, approximately 40 MT of new steel capacity will be operational in India

26 May 2023 , 11:45 AM

By 2025–2026, 40 million tonne (MT) of new steel-making capacity will be operational, a company executive predicted on Thursday. At the India Steel Summit in the capital, Vinod Nowal, the National Council on Iron and Steel Chairman for Assocham, made the comments.

According to him, domestic steel production capacity would likely exceed 300 MT and crude steel output will most likely reach 255 MT by FY31.

‘Fresh steel capacities of accumulating to 35-40 MT per year are lined up for commissioning by FY26,’ said Vinod Nowal, who is also the chairman of JSW Bhushan Power and Steel Ltd.

India’s installed total capacity for producing steel was 154 MT as of March 2023, according to the industry association Indian Steel Association (ISA).

It will be scaled up to 194 MT by FY26 with an additional 40 MT of capacity.

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