Three-fold increase in steel production planned by 2019:Paswan

Jalandhar, Dec 6 (UNI) The UPA government at the Centre has set a target of three-fold increase in steel production in the country by 2019, Steel Minister Ram Vilas Paswan said here today.

Talking to reporters, he said that after the enforcement of the new steel policy of the UPA government in November last year, the production had now gone upto 42 million tonnes as compared to last year's production of 37 million tonnes.

Now, his ministry aimed to increase it up to 80 million tonnes by the year 2013 and 110 million tonnes by 2019, Mr Paswan said.

He said that the steel Authority of India to (SAIL) and ministry's other PSUs which were facing crisis in recent past had earned profit of Rs 9,000 crore in the last financial year and were set to increase the profit up to Rs 11,000 crore by the end of the current fiscal.

Mr Paswan said, he was of the view that iron-ore should be exported only after meeting the requirement of domestic steel manufacturers.

Such a proposal had been pending consideration before the committee of secretaries, he added.

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