JSW Steel rises 2% on gas supply worries HSBC raises Tata Steel target to ₹250 British Steel to supply 120,000 mt billet to Nigeria ₹3,200 crore Tata Steel EAF starts in Ludhiana
The steel ministry supports a second round of the PLI program for speciality steel manufacturing, Union Steel Secretary Nagendra Nath Sinha said in a conversation with members of the Bharat Chamber of Commerce here on Saturday. According to Sinha, there are already 25 verticals in the PLI scheme, and 57 memorandums of understanding have been inked, totalling ₹29,500 crore in proposed investments.
The steel secretary also emphasised the importance of speeding up carbon emission reduction efforts. He stated that a national consortium of steelmakers, the government, and others had applied for hydrogen-powered DRI machines.
He said using hydrogen as fuel could be expensive, but going forward, India would be in a position to avail economies of scale in hydrogen production. “Per unit of solar power at one point of time was ₹14-15, but now it has been reduced to ₹2. So, eventually, we have to move to hydrogen for primary fuel of steel-making to reduce carbon emissions,” Sinha said.
According to the steel secretary, the industry's carbon emissions were 2.5kg per ton; this should be brought down to 2.1kg by 2030, as the global standard was much below 2kg. The steel industry accounts for 12% of the country's total carbon emissions.
Earlier, Bharat Chamber president N G Khaitan expre-ssed concern at the amounts of steel imported from China, Vietnam and Indonesia.
Also Read : Indian MOIL aims to expand manganese mining footprint beyond existing leaseholds No privatisation of Vizag steel plant, assures steel ministry
Alloy steel producers have requested that the Steel Ministry expand the PLI 2.0 plan to include cate...
Ferrous 13-Mar-2024
200-tonne steel span installed at Barapullah. Night-time work ensured smooth traffic. Big push for...
Construction 16-May-2025
China will keep building coal-fired power plants until at least 2027. The policy highlights China's...
Business 19-Apr-2025
Global crude steel production increased by 0.5 % in June 2024 to 161.4 million tonnes (MT) compared...
Ferrous 26-Jul-2024
JSW Steel surged to a new 52-week high of ₹1,221.6 on October 29, 2025, continuing its strong upward...
Construction 31-Oct-2025
Union Minister for Heavy Industries and Steel H D Kumaraswamy has said that a Detailed Project Repor...
Construction 01-Dec-2025