India is expected become second largest steel producing nation by 2012

New Delhi, Dec 14 (ANI): Union Minister for Steel Virbhadra Singh on Tuesday said that India is expected to become the second largest steel producing nation by 2012.

Addressing the Consultative Committee meeting attached to his ministry here, Singh said: "India is expected to become the second largest steel producing nation with a targeted production capacity of 120 million tones."

"Indian steel sector has contributed about two percent of Gross Domestic Product and it employs over five lakh people. Today, India is the fourth largest producer of crude steel in the world, surpassing even some developed countries."

This was the second time the Consultative Committee discussed the working of small Public Sector Undertakings (PSUs) like MECON, KIOCL and Bird Group of Companies of his Ministry.

In the earlier meeting, it discussed working of HSCL, MSTC and FSNL. (ANI)