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Leading Indian companies like Tata Steel have joined hands with Swedish technology innovators to launch seven projects to drive decarbonisation in the domestic steel and cement sectors. As India advances towards its 2070 net-zero target, reducing emissions from these hard-to-abate sectors will be essential to support the country's infrastructure development, industrial growth, and long-term climate ambitions, a press statement has said. The projects include using hydrogen in rotary kilns for steelmaking, recycling steel slag to produce green cement, and deploying AI to support cement decarbonisation. Seven innovative projects have been selected to conduct pre-pilot feasibility studies in India under the Lead IT industry transition partnership, with funding from the Department of Science and Technology, Government of India and the Swedish Energy Agency, the statement said. Leading Indian and global companies, research institutes, and technology innovators are driving these seven ...
Indian Metals & Ferro Alloys Ltd (IMFA) has signed definitive agreements to acquire Tata Steel's ferro chrome plant at Kalinganagar, Odisha, for a base consideration of Rs 610 crore. The acquisition adds 99 MVA furnace capacity - 66 MVA operational and 33 MVA under construction - taking IMFA's total installed capacity beyond 0.5 million tonnes per annum, the company said in a statement. With this deal, IMFA becomes India's largest and the world's sixth-largest ferro-chrome producer. Spread across 115 acres, the Kalinganagar facility includes four furnaces capable of producing 100,000 tonnes per annum, expected to rise to 150,000 tonnes once a fifth furnace is commissioned. The plant's proximity to IMFA's captive chrome ore mines is expected to yield cost savings and operational synergies. The transaction, subject to regulatory approvals, is likely to close within three months. Calling the acquisition "transformational," IMFA Managing Director Subhrakant Panda said it would ...