Construction Industry News
The domestic steel and cement industry will require an additional investment of Rs 47 lakh crore to achieve net zero targets, according to the Council on Energy, Environment and Water (CEEW) report. These two sectors would require Rs one lakh crore in additional operating expenses (Opex) every year to achieve this.
CEEW analyzes show that it is possible to reduce steel emissions by 8.25 percent and cement emissions reduction by 32 percent without any price increase by applying efficient technologies such as waste heat recovery and energy efficient drives and controls. Additionally, a 33 percent reduction in combined CO2 emissions from the steel and cement industries could be achieved with only 8.5 percent of total additional capital expenditure and 30 percent of additional annual operating costs. .
The report emphasizes that the reduction can be achieved without taking into account the need for carbon capture and the required supply of alternative fuels and raw materials.
Decarbonization will also make the industrial market competitive and future-proof to comply with sustainability-based regulations. India is the second largest producer of steel and cement in the world.
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