ABSTRACT
The establishment of an integrated iron and steel industry in a developing economy creates a great new driving force which provides the basis for rapid economic, industrial, and social growth, and the decision by a developing nation. This chapter describes the prerequisites for building an iron and steel plant; the benefits which accrue to the economy when a basic iron and steel industry is established; and the step-by-step evolution of such a project. The iron and steel plant is relieved of the financial and administrative burden. Sufficient funds must be provided on reasonable terms to finance the construction and initial operation of the plant. The loans must be on a long-enough term and at low-enough interest rates to permit the plant to be economically viable. Possible benefits may be evaluated and the characteristics of the project determined in terms of plant design, capital cost, financing, and plan of operation.
