The world’s second-biggest crude steel producer aims to achieve steelmaking capacity of 300 million tonnes by 2030. Read more at straitstimes.com.
NEW DELHI/BEIJING - India’s plans to build out coal-powered steelmaking capacity will quadruple emissions from 2021 to 2050 unless it takes significant steps to meet its 2070 net-zero goal, United States-based think-tank Global Energy Monitor said on Thursday.
However, India is now the world’s largest developer of new coal-based steel capacity, followed by China, GEM said in a report, adding that both countries needed to significantly ramp up efforts to meet global decarbonisation targets, as well as their own. Around half, or 49 per cent, of the operating capacity of the global steel fleet is located in China, including 59 per cent of the capacity that generates higher emissions, the report said, adding that without substantial change from China, international efforts to get the industry on track will fall short.
The International Energy Agency’s Net-Zero by 2050 scenario indicates that over half of steelmaking capacity needs to use electric arc furnace-based technology by 2050, and 42 per cent of primary steelmaking needs to use electric arc furnaces in a hydrogen-based direct reduced iron or iron ore electrolysis configuration to meet that goal.
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