Primegold Steel has announced its transition to green steel production, aligning with India’s ambitious Green Steel Mission.
This initiative positions Primegold at the forefront of the nation’s efforts to decarbonize its steel industry, which currently accounts for a substantial portion of the country’s carbon emissions. The Indian government’s Green Steel Mission, a ₹15,000 crore initiative, aims to reduce carbon emissions in the steel sector by promoting the production and procurement of low-carbon steel. The mission includes incentives for renewable energy usage, a Production Linked Incentive (PLI) scheme for green steel, and a mandate for government bodies to purchase green steel. A key component of this mission is the establishment of a star-rating system to assess the emissions intensity of steel products, with five stars awarded to steel emitting less than 1.6 tonnes of COâ‚‚ per tonne of finished steel .
Primegold’s commitment to green steel production involves adopting cleaner technologies and processes that significantly reduce carbon emissions. The company plans to utilize renewable energy sources and implement energy-efficient practices in its manufacturing operations. This transition not only supports national sustainability goals but also enhances Primegold’s competitiveness in a market increasingly focused on environmental responsibility. The move to green steel is timely, as India faces increasing pressure from international markets to meet environmental standards. The European Union’s Carbon Border Adjustment Mechanism (CBAM), set to impose tariffs on carbon-intensive imports, underscores the need for Indian steel producers to adopt low-carbon technologies to maintain market access .
Furthermore, the adoption of green steel aligns with global trends towards sustainable manufacturing. Countries worldwide are investing in green steel technologies, recognizing the sector’s potential to contribute to climate goals and economic growth. India’s leadership in defining green steel standards and implementing supportive policies positions it as a key player in the global green steel market . Primegold’s transition to green steel production is a commendable step towards sustainable manufacturing. By aligning with national initiatives and global trends, the company not only contributes to environmental conservation but also strengthens its position in an evolving market. This move serves as a model for other steel producers in India and beyond, demonstrating that economic growth and environmental responsibility can go hand in hand.
