In 2012, Wave Group commissioned a steel plant at Dhanaura, Uttar Pradesh alongside its sugar manufacturing unit, has the manufacturing capacity of 72,000 MT per annum. The steel business of Wave Industries has been a major contributor to the India’s manufacturing growth. Currently, India is the world’s third largest producer of crude steel and is expected to grab the second spot in 2016.
The Indian steel industry has become very modern with state-of-the-art steel mills. It always strived for continuous modernization and up-gradation of older units.Steel industry and its associated mining and metallurgy sectors have received investments and developments in the recent past.
The Government of India aims to scale up steel production in the country to 300 MT by 2025 from 81 MT in 2013-14.
The Ministry of Steel & Mines has reiterated the commitment of Central Government to support the steel industry to reach a production target of 300 Million tonne Per Annum (MTPA) by 2025.
India is expected to become the world's second largest producer of crude steel in the next 10 years, moving up from the third position, as its capacity is projected to increase to about 300 MT by 2025. There is huge scope for consumption & growth due to increased infrastructure construction and the thriving automobile and railways sectors.
This facility at Wave’s steel plant includes melting, rolling and ready-made steel manufacturing and the commercial production from this plant commenced in 2013, since then it’s been contributing to India’s manufacturing output.