Global steelmakers have faced margin pressures over the past 7-8 quarters due to increased exports from countries dealing with domestic surplus capacity. Steel demand in India is set to rise to 240-260 million metric tons by 2035, driven by economic growth and urbanisation, according to a recent report by McKinsey & Company. The report highlights […]
India will need to invest $ 283 billion (approximately ₹23.52 lakh crore) for decarbonising existing local steel production. This, along with tapping Energy Efficiency Revolving Funds (EERF) and defining what should be ‘green steel’ are parts of a comprehensive decarbonisation strategy devised by the steel ministry. The plan, officials say, will focus on increasing renewable
Steel ministry draws up Rs 23.52 lk cr proposal for decarbonisation – ET Infra Read More »
The British government said it has begun supporting those affected by Tata Steel UK’s decarbonisation process with the release of an initial GBP 13.5 million of funding, also available to affected workers for them to retrain or acquire new skills for the employment market. In a statement from the Wales Office on Monday, the government
UK allocates funds to support Tata Steel’s decarbonisation – ET Infra Read More »
NEW DELHI: India has begun a review of the seven-year-old National Steel Policy (NSP) in the wake of some advanced economies such as the EU imposing carbon tariff (Carbon Border Adjustment Mechanism) on steel imports and the growing need to decarbonise the sector, officials said. The idea is to assess the impact of the policy
Review of National Steel Policy begins – ET Infra Read More »
NEW DELHI: Green steel will play an important role in reshaping the future of the industry as the world moves towards a low-carbon economy, the Economic Survey for 2023-24 has said. The concept of green steel promotes the production of steel using green energy sources and minimizing the usage of fossil fuels. “As the world
Green steel to play key role in for low carbon economy globally: Survey – ET Infra Read More »
Last week saw two major milestones in the global effort to make steel production less damaging to the climate. Boston Metal raised $262 million of venture funding for its electricity-based steel- and metal-making technology, while Sweden’s H2 Green Steel assembled €1.5 billion in equity to build its first plant that will use hydrogen to create
Greener steel production is the first step. Next comes scaling it up – ET Infra Read More »
India’s Essar Group is going ahead with plans to develop a $ 4.5 billion integrated Green Steel plant in Saudi Arabia. In a statement issued on Monday, Essar said it has forged a long term partnership with Saudi Arabia’s Desert Technologies (DT), a solar photovoltaic (PV) company. The two will develop solutions for renewable energy
Essar Group preps for Green Steel production in Saudi Arabia – ET Infra Read More »
Representative image. Global mining giant Vale International will supply iron ore to Essar Group’s green steel project in Saudi Arabia, the Indian firm said in a statement on Thursday. Essar had previously inked a pact with Bahrain Steel for supply of DR-grade pellets for the project. With signing of the pact with Vale, Essar has
Vale Intl to supply iron ore to Essar’s steel project in Saudi Arabia – ET Infra Read More »
Bahrain-based firm Foulath arm Bahrain Steel has collaborated with Essar Group‘s KSA Green Steel Project for supply of iron ore pellet to Green Steel Arabia (GSA) project. Through this partnership, the Bahrain Steel will deliver four million tonnes of DR-grade pellets per annum (mtpa) to Essar Group, a statement said. The Bahrain Steel is the
Bahrain Steel inks pact with Essar Group’s KSA Green to supply iron ore – ET Infra Read More »
Vulcan Steel, a privately held company of industrialist Naveen Jindal, is in talks with export credit agencies (ECAs) of multiple countries to close $2.5 billion in funding for its upcoming green steel plant in Oman, two people aware of the discussions told ET. The plant will be built using funds exclusively from non-bank sources, said
Vulcan Steel in talks to raise $2.5 billion for Oman project – ET Infra Read More »
