The company plans to invest 1 billion rupees ($11.9 million) in these centres, which will process domestic industrial and end-of-life vehicle ferrous scrap. Currently, AM/NS uses a scrap mix that accounts for 3-5 per cent of the total steelmaking capacity at its Hazira plant and aims to increase this to 9 per cent by 2025.
India's steel sector is showing a trend towards investing in scrap processing centres due to scrap protectionism and increasing scrap utilisation.
The move is part of this trend and contributes to reducing carbon emissions, with AM/NS reporting a 32% reduction in 2022 compared to 2015 levels. Other major steelmakers such as Tata Steel and JSW Steel are also investing in steel recycling and scrap shredding plants.
Comments
No comment yet.