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Economic Times
2 minutes ago
- Business
- Economic Times
Green steel demand to reach 4.49 MnT in 2030 driven by construction, infra sectors: EY-Parthenon
From a negligible level at present, the demand for green steel in the country is expected to reach 4.49 MnT by 2030, driven by sectors like construction, infrastructure and automobiles, Ernst & Young (EY)-Parthenon said in a report. Five years from now, 2030 is seen as an important year for Indian steel as the government aims to achieve ambitious target of 300 million tonnes (MnT) annual steel making capacity under its National Steel Policy 2017. Although demand for green steel in India is currently negligible, it is expected to rise significantly over the coming decades, said the report titled 'Unlocking Green Steel Demand: An assessment of India's automotive, infrastructure and construction sectors.' Steel produced through low carbon emitting process is referred as green steel. The report has been prepared in collaboration with WWF-India & CII-Green Business Centre (GBC). "By FY 2029-30, the demand for green steel is projected to reach 4.49 MnT, driven primarily by the construction sector at 2.52 MnT, followed by infrastructure at 1.5 MnT, and automobiles at 0.48 MnT," the Ernst & Young (EY)-Parthenon report said. This early uptick will be fuelled by growing urbanisation and a shift towards sustainable building practices, it said. The demand is set to reach 24.89 MnT by FY35, and is expected to more than double to 73.44 MnT by FY40, largely due to the green transition in infrastructure and automotive manufacturing. By FY50, green steel demand is projected to peak at 179.17 MnT, with construction accounting for more than half, and infrastructure and automobiles continuing to contribute significantly. Meeting this demand will require widespread adoption of green hydrogen-based DRI (directly reduced iron) technology, along with sustainable production methods such as electric arc furnaces and molten oxide electrolysis. The transition towards green steel is driven by a notable price premium due to its higher production costs and the impact of carbon pricing on traditional fossil-based steelmaking. Currently, the premium on green steel produced through H₂2 DRI (hydrogen-based Direct Reduced Iron) technology stands at USD 210 per tonne, translating to a 3.7 per cent increase in construction project costs, 5.2 per cent in infrastructure projects, and 4.1 per cent in automotive manufacturing. However, as green hydrogen costs decline and technology scales up, the premium is projected to drop significantly. By 2030, the green steel premium will fall to USD 7 per tonne, reducing cost impacts across sectors to below 1 per cent by 2035-2040. In contrast, the continued use of carbon-intensive BF-BOF steel will lead to rising costs due to escalating carbon taxes, the report said.
News18
8 hours ago
- Business
- News18
India's Green Steel Demand Set To Surge 40-Fold By 2050: Report
The EY Parthenon report projects a dramatic rise in India's green steel demand — from negligible levels today to 4.49 million tonnes by FY2030, and further to 73.44 MT by FY2040. Green steel demand in India is projected to skyrocket to 179 million tonnes by FY2050 from the negligible levels currently, driven by rapid infrastructure growth, booming construction, and a climate-conscious auto sector, according to a new EY Parthenon report. Released in collaboration with WWF-India and CII-Green Business Centre, with support from the India Green Steel Coalition (IGSC), the report titled 'Unlocking Green Steel Demand: An Assessment of India's Automotive, Infrastructure and Construction Sectors' outlines how India's green transition in steel could become both an environmental and economic imperative. Green Steel Demand to Reach 179 Million Tons by FY2050 The report projects a dramatic rise in India's green steel demand — from negligible levels today to 4.49 million tonnes by FY2030, and further to 73.44 million tonnes by FY2040, before touching 179 million tonnes by FY2050. The construction sector is expected to lead the initial uptake, followed by infrastructure and automotive segments. As of now, construction and infrastructure together account for 78% of India's steel consumption, which currently stands at 136 million metric tonnes. This figure is expected to rise to 390 million tons by FY2050, reflecting India's urbanisation push and infrastructure goals. 'Moving to green steel is no doubt a big shift—it comes with its challenges, but also opens up huge opportunities for India's industrial sector," said Kapil Bansal, Partner – Energy Transition and Decarbonization, EY Parthenon. Green steel, typically made using hydrogen-based Direct Reduced Iron (DRI) or electric arc furnaces powered by renewables, currently comes at a premium. The report pegs the green steel premium at around $210 per tonne, resulting in modest cost hikes — 4.1% for automotive, 3.7% for construction, and 5.2% for infrastructure. However, this premium is expected to fall below 1% by 2035-2040, as green hydrogen becomes cheaper and production scales up. In contrast, conventional steel, produced via the blast furnace-basic oxygen furnace (BF-BOF) route, is likely to become significantly more expensive as carbon pricing kicks in. Traditional steel prices could rise 81% by 2050, from today's $660 per tonne to $1,193 per tonne, under escalating carbon tax regimes. CBAM Could Cost Indian Exporters Over Rs 19,000 Crore by 2030 The report flags the European Union's Carbon Border Adjustment Mechanism (CBAM) as a major concern for Indian steel exporters. With India's average emission intensity at 2.5 tonnes of CO₂ per tonne of steel, compared with the EU benchmark of 1.28 tonnes, exporters could be taxed heavily if carbon intensity is not lowered. Without urgent decarbonisation, Indian steel exports could incur CBAM-related taxes of Rs 19,277 crore by 2030, eroding global competitiveness. Strategic Roadmap: What Needs to Be Done The study outlines clear recommendations for policymakers, the steel industry, and major steel-consuming sectors: Government End-Use Sectors (Construction, Infra, Auto) While hydrogen-based DRI and scrap-fed electric arc furnaces powered by renewable energy are considered the future of green steel, India currently lacks the scale to meet projected demand. The report warns of a looming supply-demand gap, unless massive investments are made in green steel infrastructure, innovation, and raw material supply chains. As India eyes 500 million tonnes per annum of steel capacity by 2047, aligning with climate commitments under the Paris Agreement, the green steel transition is not just an environmental goal — it's an economic necessity. 'What once felt like a nice-to-have for sustainability is fast turning into a business must-have," Bansal noted, underscoring how rising carbon costs and shifting global norms are pushing green steel into the mainstream. With decisive action from all stakeholders — government, industry, and end-users — India could emerge not just as a steel powerhouse, but as a leader in sustainable industrial transformation. About the Author Mohammad Haris Haris is Deputy News Editor (Business) at He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris More Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : steel industry view comments Location : New Delhi, India, India First Published: July 30, 2025, 12:10 IST News business » economy India's Green Steel Demand Set To Surge 40-Fold By 2050: Report Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Yahoo
7 days ago
- Business
- Yahoo
MicroStrategy Bolsters Its Bitcoin War Chest
Fitting, given its recent name change, Strategy — the Michael Saylor company formerly known as MicroStrategy — is thinking really, really big when it comes to bitcoin. On Monday, the company, a self-styled business intelligence and cloud-based services firm, announced that it had purchased 6,220 bitcoin worth $739.8 million last week. That adds to an already massive stockpile. Massive enough, in fact, that the company now owns roughly 3% of all bitcoin in circulation. READ ALSO: Fine Print: ETFs Born in Banner Year May Lack Staying Power and Gates-Backed 'Green Steel' Startup Clears Key Milestone Bit by Bit In total, Strategy owns 607,770 coins, worth roughly $72 billion as of late Monday. That's enough to make Strategy the world's largest corporate owner of the preeminent cryptocurrency, and is the result of a buying strategy (pun intended) that began back in 2020 as the firm sought a hedge against inflation. Along the way, Strategy has funded its bitcoin buying spree by issuing a combination of common and preferred shares, as well as via debt (case in point: the company said last week's bitcoin purchases were fueled by the proceeds of a roughly $740 million share sale, the vast majority of which were common shares). The gambit by the so-called bitcoin treasury appears to be paying off so far: Shares of Strategy have soared roughly 3,500% since the company began its bitcoin-buying campaign, while the price of bitcoin has soared some 1,100% over the same time. That compares with a measly 120% rise in the overall S&P 500 during the same time, according to a recent Bloomberg analysis. Coming Attractions: The timing of Strategy's latest bitcoin gains was hardly a surprise. Last week also marked 'Crypto Week' on Capitol Hill, with a flurry of pro-crypto industry bills passing in the lower chamber of Congress. Meanwhile, federal officials have been pushing Fannie Mae and Freddie Mac to consider crypto holdings in their mortgage risk assessments, further legitimizing the digital currencies. It's no surprise, then, that Saylor has already hinted at what the company plans to do next: buy more bitcoin. This post first appeared on The Daily Upside. To receive delivering razor sharp analysis and perspective on all things finance, economics, and markets, subscribe to our free The Daily Upside newsletter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
17-07-2025
- Automotive
- Time of India
AM/NS India commissions India's first high-strength galvanising line at Hazira
New Delhi: ArcelorMittal Nippon Steel India ( AM/NS India ) has commissioned a new Continuous Galvanising Line (CGL) at its integrated steel plant in Hazira, Gujarat, becoming the first company in the country with a facility capable of producing Advanced High-Strength Steel (AHSS) with strength levels up to 1180 megapascals (MPa). The development is part of the company's ongoing ₹60,000 crore expansion project aimed at scaling up its upstream and downstream production capacity. The expansion project was inaugurated by Prime Minister Narendra Modi in 2022 and targets increasing the Hazira plant's capacity from the current 9 million tonnes per annum (MTPA) to 15 MTPA, with a future goal of reaching 24 MTPA. The new CGL is designed to manufacture Galvanised (GI) and Galvannealed (GA) coated flat steels, including licensed products from parent companies ArcelorMittal and Nippon Steel. These products are aimed at meeting the demand for high-formability and high-strength materials in the domestic automotive industry, especially in view of India's Corporate Average Fuel Efficiency (CAFE) Phase III norms coming into effect from April 2027. "The commissioning of the first-of-its-kind Continuous Galvanising Line marks another defining moment in our expansion project, inaugurated by the Hon'ble Prime Minister Narendra Modi ji. This ambitious project's efforts are now coming to fruition, and we can proudly say that the new line and upcoming facilities are designed to produce steel that matches the quality of offerings currently available in developed nations," said Dilip Oommen, Chief Executive Officer, AM/NS India. "With the constant support from our parent companies, we have set new benchmarks and further strengthened our ability to deliver world-class products, including the highest-strength steel ever produced in India to meet the evolving needs of the automotive sector. Indigenous production from this unique line will contribute meaningfully towards the country's self-reliance goal,' he added. The new line incorporates environmental technologies including waste heat recovery, advanced thermal energy control, regenerative electrical drives and the use of electrolytic hydrogen. These are expected to reduce CO₂ emissions intensity in line with India's Green Steel Taxonomy and sustainability goals. In addition to Hazira, the company is also progressing plans for new integrated steel plants in Andhra Pradesh and Odisha. Land acquisition has commenced in Andhra Pradesh, while planning for the Odisha project is underway. The company said the commissioning strengthens its downstream capacity for value-added steel products and helps reduce reliance on imports of high-grade steel. The facility also supports India's Production Linked Incentive (PLI) scheme and other initiatives to promote domestic manufacturing of specialised steel products.
Time of India
30-06-2025
- Business
- Time of India
Tata Steel Nederland submits its EIA report
Jamshedpur: Tata Steel Nederland (TSN) has submitted its Environment Impact Assessment (EIA) to the province of North Holland. The report lays bare the environmental and health implications of the Steel Major's plans to overhaul its steel production at the Ijmuiden site. "The new steel plant, which will operate using natural gas and green electricity instead of coal, is expected to slash CO₂ emissions by 5 million tonnes," the company said in a press release on Monday. With future integration of hydrogen, bio-methane, and underground carbon storage, the reductions could go even further- making this the largest single-company CO₂ cut in the Netherlands. "Our Green Steel plan, developed in close collaboration with trade unions and fully backed by our parent company in India, represents an unprecedented shift. We are moving away from coal, and towards a cleaner, greener future,", Hans van den Berg, chief executive officer of TSN, said in a statement.
