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Andhra Pradesh government to source products from RINL for mega housing construction project
The sources said that by generating additional demand for RINL, it expected to force the federal government to abandon privatization of RINL’s 7.9 billion in the current fiscal to rural and urban housing units and use products of RINL for the project.It was pointed out by the state government, that RINL had been unable to fully utilize its 7.RINL was also the only mill in the country which had not been allocated any captive iron ore mine and had to depend on merchant procurement of the raw material leading to unviable operations.Government sources said that by generating incremental demand for its construction grade steel, RINL will be able to generate additional funds for its operation, improve viability and prompt the central government to abort handing over the assets to private investors.

🇮🇳 India · 🗓️ July 18, 2023 · Steel

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Indian government floats bids for green hydrogen projects under fiscal incentive scheme
For biomass-based technology, the minimum bid capacity is 500 mt per year and maximum of 4,000 mt per year for a single bidder.Of the total capacities on offer, 410,000 mt per year of green hydrogen production is technology agnostic, while the rest is for biomass-based pathways.The Solar Energy Corporation of India (SECI) under ministry of new and renewable energy has been designated as the implementing agency for the scheme.The maximum capacity for a bidder, including its parent or affiliate company, is 90,000 mt per year and minimum is 10,000 mt for ‘technology agnostic’ pathways for green hydrogen production.The capacities will be set up under the government’s Strategic Interventions for Green Hydrogen Transition (INSIGHT) under which an outlay of $2.

🇮🇳 India · 🗓️ July 18, 2023 · Steel

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Technologies and strategies already exist to decarbonise steel industry: German think-tank
The cost of low-carbon hydrogen will have a major impact on the competitiveness of steelmakers, the report observes.Another solution is to facilitate the entry of new players in the hydrogen-based DRI technology market, it says.One scenario applies a wide range of clean steelmaking technologies, and the other focuses on the accelerated rollout of the Direct Reduction of Iron (DRI) after 2030.“It is technically feasible for the global steel sector to reach net-zero greenhouse gas emissions by the early 2040s,” the study, which was done in collaboration with the Wuppertal Institute, says.DRI is a flexible steelmaking technology which enables the production of near-zero emissions steel.

🔗BL Chennai Bureau

🇮🇳 India · 🗓️ July 18, 2023 · Steel

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With Rs 1,000 cr at stake, Tata Steel moves SC in Bhushan Steel case
However, the Delhi High Court's single judge held that the avoidance application could not be pursued after the conclusion of the CIRP.Tata Steel is challenging the January 13 order where the Delhi High Court directed the National Company Law Tribunal (NCLT) to proceed with the hearing of the avoidance application but said the amount recovered can be distributed amongst the secured creditors in accordance with law as determined by the NCLT.In this order, the judge ruled that any order related to avoidance transactions must be passed before the approval of the resolution plan.The Supreme Court heard the matter on Friday and the next hearing could be after 6-8 weeks, a lawyer said.The court observed that the investigation of such transactions is a lengthy process and it will be impossible to conclude these proceedings within the time frame laid down in the process.

🇮🇳 India · 🗓️ July 18, 2023 · Steel

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Tata Steel joins LeadIT to drive net-zero industry transformation
Tata Steel's membership in LeadIT is a significant milestone for the company, as it positions Tata Steel as a global leader in the drive to decarbonize the steel industry.Tata Steel has joined the Leadership Group for Industry Transition (LeadIT), a global initiative to accelerate the transition to net-zero emissions in heavy industry, the company said on Wednesday.The company said that it would work with LeadIT to share its experiences in developing and deploying low-carbon steel making technologies and to advocate for policies that support the transition to a net-zero emissions economy.Tata Steel has set a goal to become net-neutral in carbon emissions by 2045, and joining LeadIT will help the company achieve this goal by providing access to a network of experts and resources.The group brings together governments, companies, investors, and other stakeholders to share best practices, develop new technologies, and advocate for policies that support the transition to a net-zero emissions economy.

🇮🇳 India · 🗓️ July 18, 2023 · Steel

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