JSW Steel Comes up with Mega Integrated Green Steel Manufacturing Complex in Odisha
The INR 65,000 crore complex will come up at 2,958 acres in Odisha. It will include an integrated steel manufacturing unit with a capacity of 13.2 million TPA, a captive power plant, captive jetties, a cement manufacturing unit, and a modern township. Mar 15, 2024 Chief Minister of Odisha Naveen Patnaik has laid the foundation […]
Goldman Sachs Report Terms EU’s CBAM as Great Risk Factor for Indian Steel Exporters, Predicts Levying of Heavy Carbon Tax
Carbon Border Adjustment Mechanism (CBAM): Goldman Sachs foresees Indian steel producers paying heavy carbon tax for export to Europe in 2026. Feb 22, 2024 The European Commission’s Carbon Border Adjustment Mechanism (CBAM), which will come into force as a permanent system on January 1, 2026, is likely to affect the Indian steel producers the most, […]
Government Mulling Incentives to Fuel Green Transition in Steel Industry
Government contemplates rewarding steel companies, which prioritize energy-efficient technologies and sustainable practices with concessional finance and long-term loans. Feb 21, 2024 In order to create a conducive environment for the steel sector to embrace eco-friendly practices and accelerate green transition in steel production, the government is contemplating a slew of incentives for the industry, including […]
UK to Impose Carbon Levy on Carbon-Intensive Imported Goods by 2027
Britain’s government has announced the imposition of a new carbon import levy on carbon-intensive products from 2027. The planned CBAM will help protect businesses against cheaper imports from countries with less strict climate policies. Dec 18, 2023 The government of Britain is set to impose a new carbon import levy on products such as the […]
India to Set a Plan to Safeguard Steel Trade Interests from EU Carbon Tariffs
In line with its ambitious goal of achieving net-zero greenhouse gas emissions by 2050, the European Union (EU) adopted a groundbreaking plan this year to introduce tariffs on imports of high-carbon goods, including steel and cement. Oct 04, 2023 In an effort to address the concerns of domestic steel producers regarding the European Union’s proposed […]
SMS Group Signs MoU with PT GRP to Drive Green Steel Development in Indonesia
A MoU was signed between SMS Group and PT Gunung Raja Paksi Tbk at a two-day ‘Focus Group Discussion (FGD)’ event in Jakarta, Indonesia symbolizing their commitment to advancing sustainable steel industry procedures and processes through digital solutions. Oct 19, 2023 SMS group and PT Gunung Raja Paksi Tbk co-hosted a two-day ‘Focus Group Discussion […]
European Union Signs CBAM Regulation for Carbon-Intensive Imports Management
The co-legislators of the European Union have signed the Carbon Border Adjustment Mechanism (CBAM) Regulation to fight against carbon-intensive imports. The CBAM, which will be implemented in a transitional phase starting from 1 October 2023, plans to assign a fair price to the carbon emissions associated with the production of carbon-intensive goods entering the EU. […]
