Noting that the achievement of 300 MT of steel output was a "very difficult task", Narendra Kothari emphasized on boosting production of raw material like iron ore and infrastructure to achieve this task.
Government-owned iron ore producer NMDC on Wednesday said it plans to increase its production capacity by three-fold to 100 million by 2021-22.
"We have made an ambitious plan wherein we have planned to increase our capacity (of iron ore) by threefold. Today, we are doing 30 MT AND we have made our plan to take it to 100 MT by 2021-22," NMDC, CMD Narendra Kothari said here on Wednesday.
By the year 2018-19, the production capacity will reach 75 million tonne. "This year, our additional 15 MT capacity will come," he said.
Noting that the achievement of 300 MT of steel output was a "very difficult task", Kothari emphasized on boosting production of raw material like iron ore and infrastructure to achieve this task.
"We have a target to produce 300 MT of steel by 2024-25. This is a quantum jump as at present we have 100 MT of capacity. It is not easy task. It is a very difficult task," he said.
"We need enough raw material, infrastructure like ports, railways, then cash for building capacities," he said.
"For producing 300 MT of steel, we need sufficient quantity of iron ore. Today, we are producing 130-140 MT. We have to develop our resources," Kothari said.
He also said that the industry was suffering because of high duties, railway freight and royalty.
Kothari also pointed out restrictions put on mining in certain states. "We have seen in the past that due to various judicial interventions in state like Karnataka, Goa, Orissa, a lot of restrictions were put," he said while laying emphasis on not wasting natural resources.