AM/NS plans to upgrade its existing facilities and establish a new scrap yard and processing units to increase its scrap production and storage capacity. It is also aimed to establish industrial scrap processing centers near industrial scrap production and automotive clusters to simplify and expand collection.
The company aims to reduce emissions intensity by 20% from 2021 levels by 2030. AM/NS will also increase its steel capacity from the current 9 million tonnes/year to 15 million tonnes/year by 2026.
Request for policy support from the government
AM/NS is also calling for government policy support to promote the decarbonisation of the steel sector. This includes a clear commitment from the government, as a major steel buyer, to increase purchases of low-carbon steel to enable manufacturers to plan and scale lower-carbon production.
The company also wants national taxes to be aligned with international regimes, including a border carbon adjustment mechanism (CBAM).
AM/NS highlights research and development on the use of hydrogen in reducing steelmaking emissions and developing India as a shipbreaking hub to increase domestic scrap availability as a way to reduce steel sector emissions.
It was stated that the development of a carbon market, a national grid with renewable energy and carbon capture, utilization and storage pipelines will also be needed to promote the decarbonization of the steel sector.
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