India’s Smart cities project signals resurgence for the steel industry in India
Aug-30-2017 Post / india-s-smart-cities-project-signals-resurgence-for-the-steel-industry-in-india-2
India’s Smart cities project signals resurgence for the steel industry in IndiaSteel Industry
For long now, eagle-eyed observers had noted the relative stagnation of the steel industry due to the lack of new and improved infrastructure in the country. However, this situation is set to change, and change fast with the Indian Government’s Smart Cities initiative.
The Smart Cities Project (http://smartcities.gov.in/content/) was recently announced, the main objective of which is to provide cities in India with a sparkling makeover. This makeover would entail providing modern solutions for sanitation, transportation and affordable housing to its citizens.
90 cities including, Tirunelveli, Coimbatore and Kochi will undergo this drastic evolution with a budget of $1.3 trillion earmarked for these projects over the next seven years. The financing timeline of these projects will run between 2017-2022, with development following 2022 onwards.
The project includes proposals to develop smart and affordable residential areas, provisions to bury all wiring and cabling to reduce clutter and create infrastructure for renewable energy solutions. Tons of steel for construction will be a necessity to fulfill these plans. The goal is to seat India as the second biggest steel producer in the world over Japan and under China.
India’s current per capita consumption of steel stands at 63 kilograms/person, compared to China’s consumption of 493 kilograms/person. With a very low per capita consumption and the exponentially increasing demand for fresh infrastructure, India’s Steel Industry is set to soar high.
Agni Steels stands in support of these new steps to superior infrastructure and quality of life in our country and hopes to be a catalyst of progress towards the development of these smart cities.