News Detail

News: 

The government will soon launch a portal for sale of steel at competitive prices to boost construction activity , after 95 lakh tonnes of cement was booked online, Road Transport and Highways Minister Nitin Gadkari told reporters.

Source: ET

SNP Insight: 

The announcement comes at as a respite for domestics steel manufacturing players which are in a challenging propositions with cheap and large imports from China, the world's largest producer. The online portal will be available with Government sector to procure steel at competitive prices. This in turn will come as a big boost to the for the already ailing Steel sector in the country with the implemenentation of e-governance in the sector.

Source: SNP Infra Research