Steel minister, Ram Chandra Prasad Singh advised the Indian steel industry to adopt hydrogen in a big way. “Acknowledging the concerns regarding environment and emissions generated by steel sector, the minister advised the industry to move towards adoption of using hydrogen in a big way,” steel ministry said in a statement.
“Shri Ram Chandra Prasad Singh directed the ministry officials to hold a discussion with the industry to address the concerns of the industry regarding the production-linked incentive scheme for specialty steel which was notified in July 2021. The minister directed that due consultation with the steel players should be done prior to the issuance of guidelines for PLI scheme,” the statement said. This comes against the backdrop of a robust demand for steel and high prices. With the current cost of green hydrogen produced by electrolysis estimated at around `350 per kg, the plan is to more than halve it to `160 per kg by 2029-30.