Kreetika Kumar 
Dayal Steels PTE Limited has been able to address most of the steel demand that has been hindering progress in the construction sector in the past.
Managing Director Jay Dayal says so far they have melted over 1000 vehicles, and over 12,000 tons of steel have been recycled.
Dayal says because of this, they have saved the country nearly $20 million worth of import bills by manufacturing steel locally using local raw materials.
“We request that the government encourage the local utilization of scrap metal. As with a promising industry now present, scrap metal is our country’s resource. Many industries and large countries have actually banned the export of scrap to encourage a circular economy and the production of steel from local resources.”
Trade Minister Manoa Kamikamica says the initiatives undertaken by Dayal’s Steel Pte Ltd encompass a wide range of end-of-life vehicles, such as cars, trucks, and heavy machinery, as well as various plants and equipment.
Kamikamica says the significance of compliance with the Scrap Metal Trade Act must be balanced.
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