The Kalyani Group aims to manufacture 250,000 tonnes of ‘green steel’ from its electric arc furnace plant in Pune operated by Saarloha Advanced Materials, Amit Kalyani, Deputy Managing Director of Bharat Forge, told Moneycontrol.
Green steel is a variety manufactured without the use of fossil fuels. It is produced by using low-carbon energy sources such as hydrogen, coal gasification or electricity rather than coal-fired plants.
“We will aim to produce 50,000 tonnes of green steel in the first year,” the executive said, adding that the plant where green steel is being produced has the capacity to manufacture 250,000 tonnes of steel, but only 20 percent of its capacity will be used to produce green steel in the first year.
Saarloha Advanced Materials is a Kalyani group company that launched green steel under the brand Kalyani FeRRESTA on December 20.
In an interview with Moneycontrol Amit Kalyani said ndia has the potential to produce 2 million tonnes of green steel with the right amount of investment.