SEPTEMBER 20258INDIA PLANS RS 5,000 CRORE SCHEME TO PUSH CLEAN STEEL TECHNOLOGYSRAM & MRAM, TESLA GROUP TO BUILD EV BATTERY PLANTS GLOBALLYThe government is preparing to launch a Rs 5,000 crore program to promote clean steel-making technology in an effort to reduce carbon emissions as well as meeting India's net-zero objectives, Steel Secretary Sandeep Poundrik said on Wednesday.As part of a proposed National Mission for Sustainable Steel, the program is expected to be designed in the coming months. Poundrik stated that the scheme will apply to all steel manufacturers and will devote 75-80 percent of According to a corporate spokesperson, SRAM & MRAM, Group, a global leader in sustainable development and technology, and Tesla Group as a manufacturer of battery energy storage systems, have signed a $1 billion deal to establish electric vehicle battery facilities in India and other nations.The agreement focuses, five EV battery factories, also referred to as gigafactories, will be constructed in India funds to secondary producers. The scheme will create incentives for companies based on the amount of emissions reduced compared to last year."Basically, this scheme is that you will get incentives depending on how much you reduce the emission...What we are saying is to improve the technologies, but the output parameter we are measuring is decarbonisation." he said.India's steel industry, one of the world's hardest sectors to decarbonise, accounts for nearly 12% of the country's greenhouse gas emissions. Current emission intensity stands at 2.55 tonnes of CO2 per tonne of crude steel, far above the global average of 1.9 tonnes. The scheme aims to encourage the adoption of alternative materials and cleaner production methods to close this gap.With India being a signatory to the Paris Agreement and committed to becoming a net-zero economy, this move could mark a turning point for the steel sector. By incentivising clean steel production, the government hopes to strengthen industry competitiveness while aligning growth with sustainability goals. along with 15 additional countries, such as the US, Malaysia, Oman, Brazil, the UAE, and Cambodia, stated Sailesh L Hiranandani, Chairman of SRAM & MRAM, Group in a statement."The collaboration will create one of the largest battery manufacturing and storage supply chains for electric vehicles (EVs) globally," he added.TESLA Group a.s. will supervise the design, engineering, and building of these state-of-the-art facilities to ensure flawless execution, while SRAM & MRAM, Group will lead efforts to acquire single-window approvals, grants, subsidies, tax advantages, and local collaborations."By combining our advanced BESS technology with SRAM's global expertise, we are not only building factories but also fostering vibrant communities that will drive the future of sustainable energy," Nanda K Bhagi, President of TESLA Group a.s. Each of the giga factories will be about 500 acres, and will house entire battery manufacturing and storage supply chains, Hiranandani said. TOP STORIESTOP STORIESTOP STORIES
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