Tata Steel chairman, N Chandrasekaran, said in the company's annual report that the discussions with the Dutch government over the decarbonisation strategy for Tata Steel Nederland had commenced. The decarbonisation will be implemented in two phases, with one blast furnace to be replaced before 2030, followed by the second one. "For the first phase, we have outlined a plan to transition to green steel production by 2030 through the direct reduced iron (DRI) and electric arc furnace (EAF) route.
The DRI, set to initially operate on natural gas, will seamlessly transition to hydrogen when it emerges as an accessible and economically feasible energy source," he said in his message to shareholders.
"We hope to conclude an agreement in this fiscal year," Chandrasekaran added.
The discussions with the Dutch government are on financial and policy-level support.
Green Steel Plan
This story is from the June 24, 2024 edition of Business Standard.
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This story is from the June 24, 2024 edition of Business Standard.
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