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9th EPC World Awards EPC Awards - India Infra Forum 2022
Budget 2022 Expectations from the Government for greening steel.

Budget 2022: Policy expectations for greening steel.

Dilip Oommen, President, ISA; and CEO, AM/NS India

“Central to a successful journey towards decarbonisation of steel industry is the availability of sufficient green hydrogen and renewable energy at competitive pricing. The technologies required to adapt these with the existing infrastructure will be a real challenge. Therefore, the transition towards greening steel will incur high initial capital costs, and also operating low carbon steel plants will be considerably expensive in the short to medium term at least. The Government needs to lay strong emphasis on R&D support, long-term finance availability at competitive rates, cross-sector collaboration, incentives along with a well-designed policy to accelerate this transition.”                                                                                                                                  

Sajjan Jindal, Chairman, JSW Group 

“India's economic growth synonyms with the growth of the steel industry. As we are poised to take a quantum leap, we must do so responsibly and sustainably, decoupling growth and economy from carbon emissions. The sector is taking initiatives on its own to reduce their carbon impact, but need policy and public support to adopt deep decarbonisation technology economically viable at the early stage of adoption.”

T V Narendran, CEO and Managing Director, Tata Steel Ltd.

“For exports to remain globally competitive and address the growing concerns around climate change, Indian steel producers will need to decarbonise. This is especially true at a time when some of the world’s developed nations are contemplating imposition of carbon tax under Carbon border adjustment mechanism on the imported products. The Indian Steel Industry’s decarbonisation initiatives will also contribute to the Nation’s COP26 commitments. We believe, the Government’s incentivisation of low carbon technologies, funding of pilot projects and market place creation of green products though policy interventions will enable this transition.”

 




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