Sri Bhupathiraju Srinivasa Varma Minister of State for Steel and Heavy Industries inaugurated the comprehensive event MMMM 2024 comprising of international conference on “Process & Product Innovations in Metal Production” and Open Seminar on Green Steel Production organised by Hyve India Ltd, IIM Delhi Chapter, Metalogic PMS, and World Metal Forum at Yashobhoomi from 27th September 2024 to 29th September 2024.
Speaking on the occasion Hon’ble Minister of State lauded the technological Innovations and material efficiency in the steel sector that has driven the global steel production close to 2 billion tonnes from a few kgs in earlier eras and the global capacity has reached close to 2.5 billion tonnes.
Sri Bhupatiraju Srinivasa Varma added that India’s and global demand for steel will continue to grow in times to come. Indian Steel has a bright future ahead and is currently the Second largest producer with a capacity of 178 million tonnes and production of 144 million tonnes in Fy’24.
Minister observed that the Steel Sector is at the watershed moment in its life cycle and the future direction will be built be built on digitisation in its processes and around sustainable steel production to minimise the emission levels to reduce its environmental carbon footprints.
Sri Bhupatiraju Srinivasa Varma reminded the industry representative present that Hon’ble PM Sri Narendra Modi had promised at COP26 on November 2, 2021 that, India will reduce the carbon intensity of its economy by more than 45 percent By 2030 and will achieve the target of Net Zero by the year 2070.
Global steel sector on an average account for ~8 percent of total emissions with emission intensity of 1.89 tons of CO2 per tonne of crude steel produced. However, in India the sector contributes around 12% of total emissions released with emissions intensity of 2.5 tons of CO2 on production per ton of crude steel averred the Hon’ble Minister
Considering the urgency of the issue, the Ministry of Steel has recently released a report titled “Greening the Steel Sector in India: Roadmap and Action Plan” prepared based on the recommendation of the 14 Task Forces constituted by the Ministry of steel for defining pathway towards decarbonization of steel sector. The report comprises in-depth recommendations on technologies including Energy Efficiency, Renewable Energy, Green Hydrogen, Material Efficiency, Process Transition from coal based DRI to Natural Gas based DRI, Carbon Capture, Utilisation and Storage (CCUS) and the use of Biochar in steel.
Sri N N Sinha former Secretary Ministry of Steel mentioned that there is recent report from BCG that has highlighted the companies pursuing decarbonisation pathway are able to improve their bottom line. He added that the aforesaid report also highlighted that companies may be able to improve 10% to 40% in their emission intensity by focussing on internal improvements. The Indian Steel companies now should come forward as the Government has already laid out clear pathway.
Sri Subhankar Sen Business head BPCL said that MAK Lubricants from Bharat Petroleum are complimenting steel industry’s impressive growth, projected to reach 300 million tonnes by 2030 and the increasing focus on sustainable practices and green steel production.
Minister of state also released the Conference Volume and Souvenir of the International Conference on PROCESS and PRODUCT INNOVATIONS IN METAL PRODUCTION organised by The Indian Institute of Metals-Delhi Chapter at the event.
Minister of state exhorted industry that the way forward towards transition to low carbon metal production is innovation of processes, robust collaboration between metal producers both primary and the secondary, academicians, R&D organisations, capital equipment producers and the metal using sector.
