Bhilai (Chhattisgarh), July 11 (IANS) India’s steel production will surge to 124 million tonnes (MT) per annum by 2011-12 from the current figure of 65 mt, Steel Minister Virbhadra Singh said here Saturday.
“There is a massive expansion going on in the steel sector in country, both in the public and private sectors, that will see India becoming a major steel producer by 2011-12 when its steel production will be 124 mt from the present production of 65 mt,” the minister said at a press conference here.

Singh was visiting the state-run Steel Authority of India Limited’s (SAIL) flagship unit Bhilai Steel Plant (BSP) here, some 30 km from Chhattisgarh capital Raipur.

“The Indian steel industry has largely been unaffected by the global meltdown,” he held.

“SAIL is pumping in Rs.70,000 crore in a phased manner on modernisation and expansion of its various units and most of the projects will be completed by 2011-12,” the minister said.

Top BSP officials say that SAIL is investing Rs.20,000 crore for expansion and modernisation of the Bhilai unit that will take its annual production capacity up to 7.5 mt by 2011-12 from the present output of some 5 mt.