ACME Group's Green Iron Production Venture Set to Revolutionize Clean Steel Industry

ACME Group plans a Rs 5,000 crore investment to establish a direct reduced iron facility with a capacity of 1.2 million tonnes annually. This initiative aims to produce environmentally friendly iron for green steel production in India or Oman, enhancing the company's energy portfolio.

ACME Group is making a significant move to bolster the clean steel industry by planning a Rs 5,000 crore investment into setting up a direct reduced iron (DRI) facility. According to industry insiders, this plant will initially have a capacity of 1.2 million tonnes per annum, offering green Hot Briquetted Iron and Green Direct Reduced Iron, pivotal for eco-friendly steel production.

The company's chairman, Manoj Kumar Upadhyay, emphasized their commitment to clean technology, declaring that the new greenfield facility will deliver products with remarkably low carbon emissions. However, he refrained from sharing detailed investment figures for the project intended to further solidify ACME Group's leadership in sustainable solutions in India.

Potential locations for the facility are being assessed in India or Oman, near existing ACME sites, parallel to their ongoing efforts to develop green hydrogen facilities in Odisha and Oman. ACME Group already boasts a diverse renewable energy portfolio including solar and wind, with an operational solar capacity of 2,700 MW.

(With inputs from agencies.)