India’s Ram Charan Company Private Limited has inked an agreement with Indian state-run steelmaker Steel Authority of India Limited’s Bhilai Steel Plant (BSP) for complete management of greenhouse gas emissions and converting them into value-added fuel, a statement issued by Ram Charan said on Tuesday, October 3.
Under the agreement, Ram Charan will construct a plant with a capacity for capturing 25 mt per day of emissions and scale this up to 200,000 mt per day to manage emissions from the steel plant, and it aims to make it totally carbon neutral within one year, the statement said.
“This is the first such effort globally by a steel plant and a firm to step forward in helping India achieve a carbon neutral position. Steel Authority of India Ltd has taken a firm step forward managing greenhouse gases, working closely with Ram Charan’s team to ensure that this is completed. This will entail an investment of $722 million in equipment,” the statement said.