Mills need technology breakthrough for Green Steel, face 30% cost increase
Steel makers in India and globally stare at a sharp 30 per cent increase in the production costs to manufacture 'green steel' for meeting their net-zero targets, experts said.
Right now, there is no single definite technology for producing 'Green Steel' and whatever is available is based on different production process lines with different timeframes, said steel experts at the Singapore Green Steel Forum on Tuesday.
India's steel mills along with their global peer groups and consultants are seeking a major technology breakthrough to produce green steel, according to experts.
Present estimates put production of 'Green Steel' 30 per cent higher compared with conventional steel that is being produced currently, said a consultancy group official anonymously.
The debate is using electric arc furnaces based on green energy, which would be costly, and Blast Furnace (BF), which uses comparatively cheaper coal, the official said.
BF also offers large volume output compared to EAF, he ...