Steel Industry Current Affairs - 2020
On February 28, 2020, the Union Minister of Steel announced at a workshop organized by Confederation of Indian Industries (CII) that GoI is to make Odisha the steel hub of India. This is to be achieved by the Government with the help of Japan.
Odisha has been selected to establish steel hub due to its strategic location, availability of raw materials and strong connectivity. The city of Kalinga Nagar is to be developed as the epicenter of Mission Purvodaya. With implementation of the mission, more than 75% of steel is to come from eastern India with Odisha alone contributing more than 100 metric tonnes per annum.
The mission was launched in January 2020. It aims to develop Eastern India as an integrated steel hub. Under the mission, the GoI aims to generate employment opportunities and also increase growth of steel sector.
This will also help achieve the target of National Steel Policy, which is producing 300 MT of steel by 2030.
Tags: Chief Minister of Odisha • High Quality Steel • Ministry of Steel • National Steel Policy • Odisha
On January 31, 2020, at the World Sustainable Development Summit released its report on India’s Steel Demand. According to the report, if the steel demand of the country continues to grow, the carbon-dioxide emissions from the steel sector will reach 600 million tonnes by 2050.
The TERI released its report titled, “Towards a Low Carbon Steel Sector: Overview of the Changing Market, Technology and Policy Context for Indian Steel”. According to the report, the current carbon-dioxide emissions from steel sector is 242 Million Tonnes. This is 35% of total carbon dioxide emissions of the country. It is to quadruple in three to four decades.
Suggestions made by the report
In order to manage the increase in steel demand emissions, India should start increasing the use of domestic scrap and deploy energy efficiency measures. The report also recommends establishing low carbon technologies. It also expects that the decarbonization technologies that are in the demonstration stage will reach commercial markers in next 20 years.
TERI also suggests penalty for emissions starting from 2030. This will force industries to adopt deeper decarbonization technologies.