The finance ministry has rejected a proposal by the steel ministry to establish a central organisation for the bulk procurement of green steel. It cited that most steel procured for government projects is purchased indirectly through contractors rather than directly by the government, making such an organisation unnecessary, officials told Business Standard.
The steel ministry did not respond to queries sent by Business Standard on this matter.
Green steel refers to steel produced using environmentally friendly methods that reduce carbon emissions, typically by replacing fossil fuels with renewable energy sources such as hydrogen or electricity from wind and solar power.
The ministry had suggested an agency similar to Energy Efficiency Services (EESL).
EESL is a joint venture of four public sector utilities under the power ministry - namely NTPC, Power Grid Corporation, REC, and Power Finance Corporation. It is engaged in the bulk procurement of energy-efficient products such as LED lights, fans, and solar pumps.
This story is from the December 26, 2024 edition of Business Standard.
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This story is from the December 26, 2024 edition of Business Standard.
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