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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.
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