The project will leverage ACME’s green hydrogen capabilities to process HBI and DRI for green steel manufacturing. The hydrogen will be sourced from the Group’s under-construction green hydrogen facility. The new Green HBI/DRI facility will be located on an existing site equipped with renewable energy infrastructure.
Applications for regulatory approvals are underway, and construction will commence once clearances are obtained. ACME is also building green hydrogen facilities in Odisha and Oman, highlighting its global clean energy focus.
Strategic Global Partnership
David Nguyen Minh Tu, Chairman of Stavian Industrial Metal, emphasized that the partnership is a shared commitment to net-zero goals, targeting 2050 for Vietnam and 2070 for India. Stavian’s strong global presence across 20,000 customers in over 100 countries positions it to support sustainable steel production worldwide.
Rising Demand for Green Steel
The green steel market is expanding rapidly due to climate commitments, regulatory mandates, and corporate decarbonization efforts. Industries such as automotive, construction, and consumer goods are driving demand for low-carbon steel products, presenting significant opportunities for manufacturers and clean technology providers.
Globally, countries like the US, China, and European nations are investing heavily in hydrogen-based steelmaking technologies to reduce emissions and modernize production processes. India’s green steel initiatives are aligned with these international trends, aiming to support low-carbon industrial growth (Ministry of Steel, India).
Future Outlook
ACME’s investment marks a significant step in India’s transition toward sustainable steel production. By integrating green hydrogen and renewable power, the company aims to reduce the carbon footprint of steel manufacturing while meeting rising industrial demand for environmentally responsible materials.