SAIL & Arcelor Mittal would soon formalize the parameters of a Joint Venture for the production of automotive-grade steel, said Union Minister Birender Singh, while addressing a press conference in New Delhi on Tuesday. Highlighting the achievements of the Steel Ministry during the 3 Years of NDA Government, he said that the Indian steel industry is on the cusp of another significant milestone by becoming the second largest stainless steel producer in the world, leaving Japan behind. He said on 3rd May this year the Cabinet under Prime Minister Modi approved two policies of the steel ministry and we are working on their implementation. We are confident that steel sector will become more vibrant and dynamic after the 'National Steel Policy 2017' and 'Policy for preference to domestically manufactured iron & steel products in government procurement' becomes effective. The roadmap to implement the new policies will be finalized in the next six months to one year. Talking of Zero Waste Production, the Steel Minister said that a 120 MW power plant was inaugurated in April 2017 at RINL Vishakhapatnam using the waste gasses of the steel plant. The Huge Fine dumps, waste slag, slime etc. from steel plants need to be utilized by using innovative techniques for Pelletization of fines, slag cement for slag towards a Clean & Green Steel Sector in India. The Ministry of Steel & UNDP has worked for energy conservation in 300 secondary steel units. Plans are to upscale to 1000 secondary steel units. This would reduce CO2 emissions, roughly equal to taking all passenger cars off Delhi's roads, Singh added. Enlisting new Schemes for Secondary Steel Producers in 2017-18, he said that the steel ministry will rate the ranking of Top-50 Secondary Steel/Smart Producers and awards will be given for best-performing plants in secondary steel sector solely on the criterion of their products of BIS standards and cost effectiveness.