South African Minister of Economic Development Patrick recently said in Parliament that a $ 1.5 billion Rand Iron and Steel Competitiveness Fund would be set up to help eligible downstream industries of the steel sector to provide their own competitiveness. The Southern Department of Economic Development will fund 95 million rand funds as a seed fund for the fund, which will help the small steel industry in particular. Patel also said that South Industries Development Corporation (IDC) will also provide funding for this.