The Nepalese Industries are in a state of flourish. On one hand, the Nepalese Steel Sector is in the process of shifting gears from being a predominantly rolling industry to become a steel-making industry and on the other hand, the cement sector is galloping towards self-sufficiency. On the power front, the situation has improved and efforts are on to complete and commission the announced projects & at the same time focus is also on improving the transmission infrastructure and providing consistent power supply.
Nepalese Steel Sector is all geared up to become a steelmaker to meet its requirements. Currently, the steel demand of Nepal stands at around 1.3 to 1.4 million tonnes. Experts are of the opinion that the demand will grow at an annual rate of about 10% for the coming few years.
Overcoming the odds of electricity supply, skilled manpower, and logistical bottlenecks, the Nepalese Steel Sector has been resilient enough to post healthy growth, and with the governmental push for reconstruction, is poised to scale new peaks. The commissioning of announced power projects will, in all probability, provide additional momentum to growth. Post-earthquake, reconstruction has not only spurred the demand for Steel, but it has also impacted the cement demand positively.
The new melting capacities, which have been lined up, point towards exciting times ahead for the Nepalese Steel Industry. The Nepal Trade Summit endeavors to decipher the growth trajectory that Steel, Power and Cement Sector in Nepal is likely to follow, the opportunities that present themselves and the challenges that need to be addressed.