Steel scrappage policy to be out next month

steel scrappage policy

The government will soon come out with a steel scrappage policy as it seeks to increase scrap utilization, generation, reduce India’s dependence on imports and attract investment.

“By next month, we probably will have robust kind of a policy. We have already prepared one in the Ministry of Steel,” steel secretary Binoy Kumar said. “It will be more ambitious, integrating ministry of road, transport and highways ministry’s views, environment views…integrating revenue department’s views and this will be a game changer for the steel industry.”

The proposed policy is aimed at having an assured and regular supply of processed scrap for the downstream industry. “Steel scrap comes from various sources such as mill scrap, used structural items like beams, reinforced steel & plates, plant and machineries including pipes, tubes, old vehicles, domestic goods, automotive scraps, shipbuilding industry, railways etc,” the draft policy says.

The policy will deal with scrap from automobile, household, structural, railways, industrial sectors, among others.