This statement was made on January 28, before the national budget for 2022-2023 to be placed before India’s parliament on February 1. It told the government that subsidies or tax incentives are needed to help steelmakers to use the latest technologies to cut carbon emission to 2.4 mt of CO2 per mt of steel production by 2030 from the current 2.6 mt per CO2 mt of steel production.
The CEO of ArcelorMittal Nippon Steel Limited (AMNS) said that the operations of low carbon steel mills will be seen as significantly expensive in the short and medium terms. It will require the government’s policy and support to adopt decarbonization technology to make it turn economically viable at an early stage of adoption.
Indian steel mills ask central government funding to reduce carbon emissions
According to a statement of the Indian Steel Association (ISA), Indian domestic steelmakers are requesting central government funding for new technologies to reduce emissions.
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