In October 2020, the Australian government released $1.3 billion to fund the Modern Manufacturing Initiative (MMI). The initiative plans to empower Australia’s Manufacturing capability and enable economic recovery to sustain the future resilience to an economic crisis. Vik Bansal agrees with the initiative that acknowledges the potential of thriving domestic manufacturing industry in creating robust healthier communities and economies.
He states that the initiative can transform the steel industry both in sustainability and economic development. Vik Bansal Infrabuild will benefit since the initiative plans on giving support and investment to local manufacturers in the renewable energy sector and low-carbon metals manufacturing. Bansal’s company Infrabuild has been using lower carbon steel-making technologies that involve the Greensteel manufacturing approach. The company recycles and upcycles the scrap metals; the feedback is then used in electric furnaces, significantly reducing the energy and resources required to make steel compared to steel made from ores.
According to the CEO of Infrabuild, the organization will collaborate with the Australian government to improve the efficiency, capability, supply chain of steel manufacturing through research and development. Infrabuild will provide the Australian economy with a regular supply of steel products and services that brings benefits compared to the foreign suppliers. Bansal agrees that the initiative is the key to Australia’s economic recovery post-covid19 pandemic to help Australia regrow. The initiative is pivotal in building the nation since homes, schools, hospitals and roads depend on the steel industry.
Vik Bansal has been the CEO at Infrabuild since 2021. He has 20 years of experience serving as executive director incorporations under the industrial manufacturing sector in Asia, Australia and the United States with a track record of outstanding performance in leading the sectors to significant growth and development. Before joining Infrabuild, Vik Bansal was the chief executive officer and managing director at Cleanway, a waste management company.
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