Vik Bansal, the newly appointed Chief Executive Officer of InfraBuild, Australia’s premier integrated steel manufacturing, distribution, and recycling firm is pushing to revolutionize not only his company, but the country as a whole. COVID-19, according to Bansal, has revealed that Australia has allowed its industrial sector to deteriorate to the disadvantage of all. Instead, the country would opt to export raw materials to other countries, which would then add value to the products before importing them back into the country.

The Australian government announced the Modern Manufacturing Initiative (MMI) in October 2020, a $1.3 billion fund aimed at bringing long-term change to Australian manufacturers. The government intends to develop a more powerful, modern, and resilient economy by shifting people’s perceptions of Australia to that of a high-quality and sustainable manufacturing nation.

Bansal further stated that the strength of domestic manufacturing would have a significant impact on individual employment, resulting in strong and prosperous local economies and communities.

This includes scrap metal recycling and upcycling, which decreases pollution, conserves resources, and reduces waste sent to landfills. When compared to primary steelmaking from ores, the scrap metal feedstock is employed in its electric arc furnaces, which saves a lot of energy and resources. On top of that, steel is needed to build the country as many buildings and roads utilize the metal. According to Bansal, a successful manufacturing and steel industry is just what Australia needs to move forward.

Australian Vik Bansal holds a Bachelor of Electrical Engineering with Honours, an MBA, and has completed the Advanced Management Program at INSEAD. Since graduating, he has 25 years of executive experience not only in Australia, but also Asia and the United States of America. In 2015, hen became the CEO of Cleanaway to reduce Australia’s waste and better the country.

Learn more about Vik Bansal: https://www.nwric.com.au/team-member/vik-bansal/