India's Green Steel Revolution: Boosting Sustainability with Eco-Friendly Production Methods
Key Ideas
  • The Steel Ministry in India proposes a 37 percent purchase preference for green steel in government tenders, promoting eco-friendly production methods and sustainability goals.
  • Companies like Tata Steel, JSW Steel, and Gensol Engineering are set to benefit from this policy shift by investing in green steel production and reducing carbon emissions.
  • Tata Steel aims for carbon neutrality by 2045 through the installation of Direct Reduction Plants (DRP) and Electric Arc Furnaces (EAF), targeting an 80 percent emissions cut by 2045.
  • JSW Steel is developing India's largest commercial-scale green hydrogen project and plans to reduce CO₂ emissions by 42 percent intensity by 2030, emphasizing recycling and energy-efficient technologies.
The Steel Ministry in India has proposed a 37 percent purchase preference for green steel in government tenders to encourage eco-friendly production methods and support sustainability goals. This move is expected to boost demand for green steel and benefit companies in the sector. Tata Steel, with a market capitalization of Rs.1.84 lakh crore, is dedicated to achieving carbon neutrality by 2045 and is actively transitioning to green steel production. The company plans to reduce emissions by 40 percent by 2030 and aims for an 80 percent emissions cut by 2045 through the installation of Direct Reduction Plants (DRP) and Electric Arc Furnaces (EAF). JSW Steel, with a market capitalization of Rs.2.41 lakh crore, is leading in sustainable steel production and is developing India's largest commercial-scale green hydrogen project. The company aims to reduce CO₂ emissions by 42 percent intensity by 2030 and is focused on recycling and energy-efficient technologies. Gensol Engineering, with a market capitalization of Rs.2,955 crore, is collaborating to establish India's first and largest green hydrogen-powered steel plant, aligning with the National Green Hydrogen Mission. The company's initiatives include a biomass-to-green hydrogen project and partnerships for innovation and sustainability. Overall, these companies are at the forefront of India's green steel revolution, working towards reducing carbon emissions and promoting eco-friendly practices in the steel industry.
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